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Varig filed for bankruptcy protection

Porto Alegre, Brazil - The Brazilian carrier is attempting to survive resorting to bankruptcy

The Viacao Aerea Riograndense SA, known as Varig, has officially put forward the demand for receivership in order to prepare the restructuring plan in the two prearranged months avoiding that 11 of its 82 airplanes were seized. The Brazilian airline has an USD 2.8bn but it reassures that it will operate normally for the next 180 days. Reconstruction will serve for offering alternative plans to meet...

AVIONEWS - World Aeronautical Press Agency - 122507
Rome, Italy, 06/21/2005 16:59
AVIONEWS - World Aeronautical Press Agency

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