Airline Finance News - Latin America / Caribbean.For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Jul 3, 2006 Copa Airlines, Continental Airlines Copa Airlines said yesterday that it has priced Continental Airlines' offering of 6.56 million Class A nonvoting Copa shares at $21.75 per share. It added that underwriters will have a 30-day option to purchase an additional 984,375 Copa shares from Continental to cover overallotments, if any. CO will continue to hold a 12.3% interest in Copa once the share sale is completed, or a 10% interest if the overallotment option overallotment option See greenshoe. is exercised in full. Jun 30, 2006 TAM TAM flew 1.49 billion domestic RPKs in May, a 33% increase over the year-ago month. Capacity climbed 20.3% to 2.03 billion ASKs and load factor rose 7 points to 73.4%. International traffic grew 45.8% to 461 million RPKs against a 28.2% increase to 623 million ASKs. Load factor improved 8.9 points to 73.9%. Jun 26, 2006 Varig Varig's future is up in the air again as NV Participacoes, the employee-led investor group that was the only bidder at the June 8 auction of the bankrupt carrier, failed to make an initial $75 million down payment Friday, forcing a Rio de Janeiro Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. to cancel the deal. Judge Luiz Roberto Ayoub told reporters he will meet with government officials, creditors and accountants next week to determine Varig's fate, which could include another auction or liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts.A type of proceeding pursuant to federal Bankruptcy . VarigLog, the airline's former freight unit, last week made another offer for its former parent, this time for $485 million, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. press reports. VarigLog was purchased in January by a consortium headed by investment firm Matlin Patterson. That offer is under review by the court and the Brazilian government. Approximately two-thirds of Varig's flights were cancelled on Friday. Jun 27, 2006 VarigLog VarigLog deposited an additional $1.8 million Tuesday and Wednesday to keep Varig afloat, according to press reports, while a Rio de Janeiro bankruptcy court, prosecutors and creditors analyzed the freight and logistics company's $500 million bid for the airline. No ruling had been announced by yesterday afternoon. Meanwhile, a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of bankruptcy court judge extended an injunction against ILFC ILFC International Lease Finance Corporation ILFC International Lunar Finance Commission (TV show: Space: 1999) , Boeing and other creditors preventing them from seizing 25 aircraft before July 21, Reuters reported. Jun 30, 2006 VarigLog VarigLog puts up $3 million for Varig, has until today to finalize offer. VarigLog, the former freight and logistics arm of Varig, has until Wednesday to finalize its offer for the beleaguered be·lea·guer tr.v. be·lea·guered, be·lea·guer·ing, be·lea·guers 1. To harass; beset: We are beleaguered by problems. 2. To surround with troops; besiege. airline, a Rio de Janeiro bankruptcy court said yesterday, according to press reports. Jun 28, 2006 |
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