Varig

A_lexander · Post by **A_lexander** » 09 Jun 2006, 23:43

Does somebody have some current information about the situation?

It's one of my favourite airline, and I always loved to see them arriving at Amsterdam.

Varig I'm goining to miss you!!!

I would also appreciat you're opinion about this!

cageyjames · Post by **cageyjames** » 10 Jun 2006, 00:08

Things aren't good:

http://www.mercurynews.com/mld/mercuryn ... 782821.htm

Bankruptcy Judge Luiz Roberto Ayoub will decide by Monday whether to accept the offer. If not, Ayoub could liquidate the company, as Brazilian law stipulates. Varig carries $3.1 billion in debt and has been under bankruptcy protection for about a year.

Advisor · Post by **Advisor** » 10 Jun 2006, 08:19

Funny Varigs website does not mention any such thing

Post by **ElcoB** » 10 Jun 2006, 08:55

Crisis-hit Varig goes under the hammer

Brazil's debt-ridden flagship carrier Varig is up for auction with a minimum price ticket of $860 million.

BBC Video 8 juin 2006

A_lexander · Post by **A_lexander** » 10 Jun 2006, 13:12

yeah but the only serious offer came from the employee's, and that was like half of the price that was asked!

All bautiful airlines are going down....Indepence, and now Varig:(

Telspace · Post by **Telspace** » 12 Jun 2006, 16:26

Today we will know if the offer of potential buyer will be accepted of not by the judge in Rio de Janeiro.
I saw last saturday that another judge in NY asked Varig to return 7 planes by 13 of June.
Which ones, don't know. Some flights were canceled over the week-end and today.

I have a flight to Rio in two hours, probably the last one, since there are always uncertainties about the flights. cancellation or not.

Denis

TexasGuy · Post by **TexasGuy** » 12 Jun 2006, 17:01

It will be really sad to see them go out of business

:(:(:(

teddybAIR · Post by **teddybAIR** » 12 Jun 2006, 17:13

Apparently a New York state supreme court decided on friday that Varig has to return a number of it's aircraft to boeing. It also decided that all non-utilised aircraft should return to their respective owners...this sounds pretty fatal if you ask me!

CXRules · Post by **CXRules** » 12 Jun 2006, 17:48

I have read reports in the past couple weeks saying they're selling/auctioning Varig's routes. There's nothing saying it's going out of business but may survive as a much smaller airline. Does anybody have more info?

CXRules · Post by **CXRules** » 12 Jun 2006, 17:54

You've got to love google. here's what I found so far:

http://www.chicagotribune.com/business/ ... siness-hed

http://atwonline.com/news/other.html?is ... F12%2F2006 (updates on the bid status)

SN30952 · Post by **SN30952** » 12 Jun 2006, 18:55

Founded in 1927, Varig short for Viacao Aerea Rio-Grandense has long been one of Brazil's best-known companies globally.
A decade ago, Varig controlled nearly 50% of Brazil's aviation market. Today its market share has dwindled to 16.5%.
Varig has more than 7 billion reais ($3.1 billion) of debt.

A NY Supreme Court on last Friday ordered Varig to turn over a number of aircraft to various plaintiffs including Boeing Co.
An injunction called for Varig, which declared bankruptcy a year ago, to stop operating the aircraft on Monday and to return them to the plaintiffs by June 16.
7 of the 10 Boeing airplanes have to be returned. Varig leases 27 planes, almost half of its fleet.

Varig received a $449 million offer from NV Participacoes, a group of pilots and flight attendants, probably not enough.... But OceanAir Linhas Aereas may make an offer for Varig's assets in the event the employee-group proposal is rejected.

Brazilean Gol's shares rose 4.9%. TAM's 7% since Friday.

Did you know Varig owes money to TAP - Transportes Aereos Portugueses SA and to .... the City of Los Angeles
O Amor esta no ar!

NV?, will there soon also be BV's in Brasil? (Dutch incrowd joke..

)

TexasGuy · Post by **TexasGuy** » 12 Jun 2006, 20:00

According to a Houston paper Varig has been ordered to return 5 MD 11's and 2 B777's to Boeing. I wonder who will buy these planes?

....

A_lexander · Post by **A_lexander** » 12 Jun 2006, 21:11

yeah probably Aeroflot for those MD's they will use them for cargo
I think........and those tripple sevens probably CO

TexasGuy · Post by **TexasGuy** » 13 Jun 2006, 01:51

would be nice to see more Continental widebody service at IAH.

A_lexander · Post by **A_lexander** » 13 Jun 2006, 18:04

defnitly!

CXRules · Post by **CXRules** » 13 Jun 2006, 19:07

Varig is stayinga live, for now.....

http://www.atwonline.com/news/story.html?storyID=5365

SN30952 · Post by **SN30952** » 13 Jun 2006, 20:32

CXRules wrote:Varig is stayinga live, for now.....
http://www.atwonline.com/news/story.html?storyID=5365

The positive thing about this, is that both their future, the airline's and the employees is in the same hands.
Actually when you will board an RG plane, you will be met and welcomed by one of the owners.

Brookers will also deal with the owners. If both are clever they could work out very positive deals. My hand washing theory*. The brookers could help the owners to emerge.
If this would not be the case, and the brookers do not want to do that, the only way out for the new owners is to go into direct selling, eventually via internet.

*One hand washes the other, result both hand are clean.

earthman · Post by **earthman** » 14 Jun 2006, 14:10

Always nice when the employees own the company. Honda used to do that (do they still do it?), and it's the way things tend to work in China.

A_lexander · Post by **A_lexander** » 14 Jun 2006, 16:29

Great news......I'm releaved!
Thank god that beatiful airline stays alive!

How many planes are there still left?

Telspace · Post by **Telspace** » 21 Jun 2006, 14:40

Today's situation is looking grim.

US judge has decided to recall 22 leased aircrafts from Varig.
16 aircrafts are in maintenance.
23 aircrafts only operationals.

Petrobras Aviation will provide fuel until Friday only, the day the new owner will deposit the 75 millions of USD requested by the Judge in Rio.

www.infraero.gov.br.
selecy "vôos on line"
select your city (SP Guaraulhos for example)
chegadas = arrival
partidas = departure

Aviation24.be

Varig

Varig

No longer -Grandense...?