Varig, Brazil’s flag-carrier, comes up for auction on Thrusday in what should be the final attempt to save the airline from going bankrupt with an estimated R$8bn (US$3.5bn) in debt.

Bidders will be able to choose between two different offers. One for all of Varig’s domestic and international routes will be offered for a minimum price of US$860m. If that fails to attract a buyer, Varig’s domestic routes only will be offered for a minimum of US$700m.