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Varig Posted A Profit!  
User currently offlineRCS763av From Colombia, joined Jun 2004, 4396 posts, RR: 12
Posted (10 years 1 month 3 days 2 hours ago) and read 1238 times:

RG has posted a Q3 profit. Did a search on the words Varig, Brasil, Brazil and RG and notihng came up, so here you go:

http://news.airwise.com/stories/2004/11/1101503324.html

"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!

4 replies: All unread, jump to last
 
User currently offlineAerorobnz From Rwanda, joined Feb 2001, 7396 posts, RR: 16
Reply 1, posted (10 years 1 month 3 days 1 hour ago) and read 1207 times:

that's very good news. I hope that this lasts for a while. I've always had a soft spot for RG. Am planning to fly them as part of RTW fare.

User currently offlinePPVRA From Brazil, joined Nov 2004, 8978 posts, RR: 39
Reply 2, posted (10 years 1 month 2 days 23 hours ago) and read 1154 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.  Big thumbs up

PPVRA



"If goods do not cross borders, soldiers will" - Frederic Bastiat
User currently offlineKim777fan From United States of America, joined Aug 2004, 510 posts, RR: 1
Reply 3, posted (10 years 1 month 2 days 23 hours ago) and read 1150 times:

Didn't US Airways just post a quarterly profit just a very short while ago as well??

User currently offlineRCS763av From Colombia, joined Jun 2004, 4396 posts, RR: 12
Reply 4, posted (10 years 1 month 2 days 13 hours ago) and read 1077 times:

US poste a profit because it sold a bunch of parked 737s. RG posted a profit because of an increase in revenue.

PPVRA: RG could easily pay the infraero debt with this Q profit.


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