Boeing Gives Brazil’s Moribund Varig a Break

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

For Brazil Olympics Will Be a Brief Distraction. The Crooks Will Never Leave

Yes, ladies and gentlemen, the great Gods of International Sport have deemed Rio de ...

Brazil’s Election Board Wants Cheaper Election Campaigns

The president of Brazil’s Federal Election Board (TSE), Minister Carlos Velloso, declared at the ...

Shame, proclaims frontpage of Jornal do Brasil with Zidane eating a little canary, symbol of Brazil's national team

Brazil’s Fainthearts Let the Nation Down

"These guys don’t play with their hearts. They only play for money," was the ...

Harlequin Enters Brazilian Book Market

Harlequin Enterprises Limited, a leading publisher of women’s fiction,  announced today that effective April ...

Brazil’s Petrobras Buying Texas Oil Refinery

The President of Petrobras – Brazilian Oil S.A., José Sérgio Gabrielli, affirmed today, in ...

Brazil Says Solution for Global Crisis Is Free Trade and Competition

Luiz Inácio Lula da Silva, the president of Brazil, is urging leading economies to ...

Brazil's stock market Bovespa

Brazil’s Stock Market Surpasses 50,000 Points and Makes Bulls See Green

Driven by Brazil's growing exports, strong currency and weak inflation and inspired by the ...

After 12 Years of Debates Brazil Still Can’t Vote on Land Use Bill

Long after the clock had struck midnight, while in the middle of a heated ...

Brazilian Congress and Electoral Court Clash Over Election Rules

The debate in Brazil over electoral rules has been stoked by the constitutional amendment ...

Congo Joins Africa Wave in Support of UN Seat for Brazil

The president of Congo, Denis Sassou Nguesso, has officially told President Luiz Inácio Lula ...