varig suspends flights to 11 cities

[FA Mikey]

Varig Suspends International Flights to 11 Cities

June 21 (Bloomberg) -- Varig, the Brazilian airline that has operated in bankruptcy for a year, suspended flights to 10 international destinations including New York, Los Angeles and Madrid, after U.S. courts forced it to ground planes.

Porto Alegre, Brazil-based Varig, the country's biggest international carrier, said in a statement that it will continue service to some cities abroad such as Miami, Frankfurt, London, Buenos Aires, Lima, Santiago and Caracas.

A Varig union official said the company may have to end all service as early as today should a New York bankruptcy court order it to ground more aircraft. New York Bankruptcy Judge Robert Drain in New York is scheduled to rule today on a petition by Varig to extend an order that blocks leasing companies from seizing as many as 25 of Varig's planes.story here

 

[Dont call me Shirley]

Varig Suspends International Flights to 11 Cities

June 21 (Bloomberg) -- Varig, the Brazilian airline that has operated in bankruptcy for a year, suspended flights to 10 international destinations including New York, Los Angeles and Madrid, after U.S. courts forced it to ground planes.

planes.story here

Let's all hope for the best for RG's employees.

 

[FA Mikey]

RIO DE JANEIRO - The fate of Brazil's flagship airline Varig was back in the courts on Monday as a bankruptcy judge considered the latest bid to rescue the embattled carrier.

Judge Luiz Roberto Ayoub said he would rule on whether to accept a $500 million bid from Volo do Brasil for the airline, which was on the verge of collapse following a wave of flight cancellations in Brazil and abroad.

Ayoub began considering Volo's offer Friday after the airline's planned sale to a workers' group TGV fell through.

TGV was the only bidder for the carrier at a bankruptcy auction on June 8, but it failed to come up with a $75 million down payment by Friday's deadline.

story here

 

[jimntx]

RIO DE JANEIRO - The fate of Brazil's flagship airline Varig was back in the courts on Monday as a bankruptcy judge considered the latest bid to rescue the embattled carrier.

Judge Luiz Roberto Ayoub said he would rule on whether to accept a $500 million bid from Volo do Brasil for the airline, which was on the verge of collapse following a wave of flight cancellations in Brazil and abroad.

story here

It is mind boggling (but rather telling about the state of the airline industry) that an international carrier like Varig could be had for the price of 2 777-300ERs. Varig used to be a wonderful airline, but I haven't flown on them in over 20 years. Does anyone know what happened?

Were they a victim of the screwy Brazilian business laws that are supposed to protect Brazilian businesses from undue foreign competition, but also tend to keep product prices artificially low? Or, was it the same as here in the U.S.--9/11 simply put the icing on the "years of bad management" cake?

 

[JFK777]

The 2 main killers of Varig were one: the pig headed Ruben Berta Foundation that controlled the airline & two: TAM, the new kid on the block that used A330-200 to Miami and Paris showing how shabby the Varig MD-11's were. Another killer was the "Pan Am" effect of invincibility.

 

[mga707]

The 2 main killers of Varig were one: the pig headed Ruben Berta Foundation that controlled the airline & two: TAM, the new kid on the block that used A330-200 to Miami and Paris showing how shabby the Varig MD-11's were. Another killer was the "Pan Am" effect of invincibility.

#3: Gol is killing them (killed them?) domestically on the main routes like Rio-Sao.

 

[Joseph Bedros]

Yes TAM, Gol, and BRA are "killing" VARIG with main routes and others...
Today VARIG flights are only from São Paulo(CGH) to Rio de Janeiro (SDU)....

Good Luck for VRG!!