Printer Friendly

Judge sets new date for Varig auction.

AIRLINE INDUSTRY INFORMATION-(C)1997-2006 M2 COMMUNICATIONS LTD

The new auction date for Brazil's Varig airline has been set by Judge Luiz Roberto Ayoub.

Ayoub reportedly said that the new auction, which is to be held on 12 July, is subject to creditor approval of a USD500m offer made by Volo do Brasil, an investment group that has acquired Varig's cargo unit VarigLog.

The Associated Press reported that if the creditors approve of the offer at a meeting set for 10 July, the auction will go ahead.

Brazilian law requires that the sale has to be in the form of a public auction even if there is only one interested party.

((Comments on this story may be sent to aii.feedback@m2.com))
COPYRIGHT 2006 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Comment:Judge sets new date for Varig auction.
Publication:Airline Industry Information
Article Type:Brief article
Geographic Code:3BRAZ
Date:Jul 4, 2006
Words:123
Previous Article:O'Hare takes position as busiest airport in the US.
Next Article:Northwest Airlines in talks with flight attendants.
Topics:


Related Articles
Varig auction expected to go ahead.
Ruling on Varig postponed by bankruptcy court judge.
TAP will not bid in new Varig auction - report.
New Varig auction expected on 11 July.
Second potential bidder for Varig emerges.
New Varig auction postponed, no new date set.
Judges accept Volo do Brasil offer for Varig.
Varig sold to Volo do Brasil.

Terms of use | Privacy policy | Copyright © 2022 Farlex, Inc. | Feedback | For webmasters |