Brazilian airline cancels flights

[White Cap]

Source:BBC News

Brazilian airline cancels flights

Rival airlines are already discussing how to share out Varig's routes
The embattled Brazilian airline Varig has been forced to cancel 67 of its 180 daily flights amid mounting fears of financial collapse.
The move came just a day after a bankruptcy judge agreed to sell the airline to a consortium of Varig workers and two foreign investors.

This saved Varig from immediate liquidation, but the consortium must now find $75m (£40m) by Friday.

The judge has warned that without this first payment the buyout will fail.

The NV Participacoes, which represents Varig workers and two foreign investors, has agreed to pay $449m for the struggling airline.

Reports in the Brazilian media say it is appealing to Brazil's National Development Bank for a loan to cover the first deposit required for the sale.

Brazil's national airport authority has said it will begin demanding that Varig pays its airport fees every day, in cash.

The news came as the country's civil aviation authorities met other airlines to divide up Varig's routes should it cease to fly.

Increased competition

Varig has been under bankruptcy protection for a year.

It was the top airline in Brazil until 2004, but was then overtaken by TAM and later by Gol.

The airline has suffered years of financial problems because of rising costs and growing low-cost competition.

It now has just 16.7% of the domestic market, but remains the leading Brazilian carrier internationally, with a 66.4% share.

[JackBlack]

Ein Gerichtsurteil in Brasilien hat ergeben das die Arbeitnehmer der Airline die VARIG AIRLINE übernehmen dürfen!

Obwohl zudem finanzstarke unternehmen als Investorgruppe (TAP AIR, AIR CANADA und ein 3.) aufgetreten sind und verhandelt haben!
Woher wollen die Arbeitnehmer der VARIG das nötige Kleingeld herholen?

[Sturmvogel]

Immerhin ein Mitglied der Star Alliance.

Bin vpr Jahren mal mehrmals mit denen geflogen, eine Airline mit wirklich gutem Service, auch innerhalb von Brasilien und Südamerika.

Wäre schade, wenn sie verschwindet, eine der wenigen vertrauensvollen Airlines in Südamerica...