Boeing Gives Brazil’s Moribund Varig a Break

Brazzil Magazine covers

Varig, Brazil-based airline, announced this Wednesday, January 4, in Rio de Janeiro, the closing of a financing agreement with Boeing Capital Corporation of United States, to fix six MD-11 airplane engines.

The agreement will allow the company to bring back to operation two airplanes that were undergoing maintenance.

Varig’s President, Marcelo Bottini, mentioned the importance of the agreement in this moment, when the company is in bankruptcy court for reorganization.

In his evaluation, Boeing’s measure represents an act of faith in Varig’s future and in its market recovery.

According to Varig’s press service, the company’s goal is to total 64 aircrafts until the end of the month, going beyond what was established in the recovery plan for the first semester.

If everything happens as expected, the company may end 2006 with more than the 69 airplanes determined by the plan. According to the company, the operation of these units will allow it to offer "perfect domestic and international services".

ABr

Tags:

You May Also Like

Brazzil Magazine covers

German Fair Brings Close to US$ 20 Million to Brazilian Shoemakers

Shoe companies from Brazil participating in the March edition of GDS/GLS – the International ...

Brazzil Magazine covers

Where Brazil Was Born

In Ilhéus, state of Bahia, the hills are covered with cacao trees. If you ...

Brazzil Magazine covers

Lula Invites African Continent to Start Green Revolution with Brazil’s Help

At the opening of the African Union (AU) heads of state assembly, in Sirte, ...

Brazzil Magazine covers

Brazilian Bras and Panties Go High Tech

The intimate fashion sector including panties and bras is one that grows the most ...

Brazzil Magazine covers

Forced to Import Used Tires from Europe Brazil Appeals to WTO

Brazil continues its struggle to keep imported used tires out of the country. Representatives ...

Brazzil Magazine covers

Computer, Iron and Oil Lead 3.1% Expansion in Brazil Industry

Brazil's manufacturing production accumulated 3.1% growth in the first eleven months of 2006 compared ...