Printer Friendly

Volo do Brasil pays Varig to keep airline going.


The press office of Volo do Brasil yesterday (26 June) said that the company had paid the airline Varig enough money to keep it running.

The fate of the airline is to be decided by Brazilian bankruptcy Judge Luiz Roberto Ayoub, who is reportedly considering a bid from Volo de Brasil of USD500m for the airline.

Consideration of the bid started when the planned sale to the worker's group TGV fell through as the group failed to make the first payment. According to The Associated Press, Volo do Brasil has paid Varig an undisclosed sum, enough to keep the airline running with reduced routes until a decision has been made. Ayoub is expected to make a decision tomorrow (28 June).

((Comments on this story may be sent to
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
Publication:Airline Industry Information
Article Type:Brief article
Geographic Code:3BRAZ
Date:Jun 27, 2006
Previous Article:China Eastern to acquire 30 Airbus A320s.
Next Article:Two Americans file lawsuit against airlines for alleged price-fixing.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters