"Brazil's flagship airline, Varig, on Friday posted its first quarterly profit in years as it carried more passengers.
Heavily-indebted Viacao Aerea Rio-Grandense (Varig) had a net profit of BRL262 million reais (USD$95.8 million) in the third quarter, compared with a loss of 243 million (USD$88.8 million) in the same period of 2003.
Between January and September, it accumulated a loss of 305 million (USD$111.5 million), which is 43 percent lower that in the same months of last year.
Net revenues in the third quarter rose to 2 billion (USD$731 million) from 1.6 billion (USD$584.8 million) a year earlier, while in the first nine months of this year they totaled 6.2 billion (USD$2.27 billion), nearly 27 percent more than in the same time in 2003."....
- Reuters.
Nice to see Latin Airlines finally turning around after years of crisis!
PPVRA From Brazil, joined Nov 2004, 8492 posts, RR: 43 Reply 2, posted (8 years 5 months 3 weeks 6 days 20 hours ago) and read 755 times:
Indeed it's very nice news, however their crisis is far from over...they must pay a soon to INFRAERO (Brazilian airport agency) a sum of R$148 million to airport and landing fees or INFRAERO might sue them for the payments. Not to mention their 6-7 billion debt. But hey, things seem to be improving for them, let's keep our fingers crossed.
I sure want to keep seeing PP-VRA at GRU for a long time to come.
PPVRA
"If goods do not cross borders, soldiers will" - Frederic Bastiat
Kim777fan From United States of America, joined Aug 2004, 510 posts, RR: 1 Reply 3, posted (8 years 5 months 3 weeks 6 days 20 hours ago) and read 751 times:
Didn't US Airways just post a quarterly profit just a very short while ago as well??
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From Colombia, joined Jun 2004, 4282 posts, 
From Rwanda, joined Feb 2001, 6325 posts, 
From Brazil, joined Nov 2004, 8492 posts, 
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