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Varig 777 Seized At JFK (PP-VRE)  
User currently offlineLipeGIG From Brazil, joined May 2005, 11416 posts, RR: 59
Posted (8 years 2 months 2 days ago) and read 17175 times:
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Brazilian press reported this late afternoon that one of the best RG aircrafts, a 777-200ER under registration PP-VRE (this A/C was grounded at UA facilities in JFK for more than a month with only one PW engine) has been seized by it's lessor due to unpaid lease installments.

The fact is that more probably will come (including it's "brother" PP-VRF grounded at GIG), also from other lessors.

Seems that lessors are really upset with RG regular delays and also, that the NY judge that helped so much RG could now believe the company situation is worst.

Anyone knows who is the owner of this A/C ? Possible new customers ?

Bad news to RG.

Felipe

Edit: Changed title from "Arrested" to "Sized". Thanks to A.Net friend Adriaticus and sorry for my bad english.

[Edited 2006-05-25 00:31:06]


New York + Rio de Janeiro = One of the best combinations !
49 replies: All unread, showing first 25:
 
User currently offlineMyt332 From United Kingdom, joined Sep 2003, 9112 posts, RR: 71
Reply 1, posted (8 years 2 months 2 days ago) and read 17145 times:

Will it be taken downtown and questioned?


One Life, Live it.
User currently offlineAdriaticus From Mexico, joined May 2004, 1136 posts, RR: 19
Reply 2, posted (8 years 2 months 2 days ago) and read 17115 times:

Felipe, I believe the word you're looking for is "sequestered", or "seized". Only a person, an individual, can be arrested.

Bad news for RG. As we say in my country, "It rains over soaked land".

Isn't VRE owned by ILFC?

__Ad.



A300/18/19/20/21 B721/2 B732/3/G/8 B741/2/4 B752 B762/3/4 B772/3 DC8/9/10 MD11 TU134/154 IL62/86 An24 SA340/2000 E45/90
User currently offlineBicoastal From , joined Dec 1969, posts, RR:
Reply 3, posted (8 years 2 months 2 days ago) and read 17085 times:

Well now we know where UA found a 777 for its new Kuwait City service!!  Yeah sure

User currently offlineILOVEA340 From United States of America, joined Oct 1999, 2100 posts, RR: 4
Reply 4, posted (8 years 2 months 2 days ago) and read 17085 times:

Quoting Adriaticus (Reply 2):
Only a person, an individual, can be arrested

Now in it's true definition an aircraft could be arrested as well but this would be done by way of a arrestor cable  Wink


User currently offlineDutchjet From Netherlands, joined Oct 2000, 7864 posts, RR: 57
Reply 5, posted (8 years 2 months 2 days ago) and read 17058 times:

What a shame, this could be the beginning of the end for VARIG, one of the great names in aviation history.

If a lessor made a move against one aircraft, it (and other lessors) will begin taking action against other aircraft to protect their assests. Is there any hope that VARIG can get additional financing to pay its past debts pending the auction of the airline, as described in another thread?


User currently offlineNewark777 From United States of America, joined Dec 2004, 9348 posts, RR: 30
Reply 6, posted (8 years 2 months 1 day 23 hours ago) and read 17032 times:

Quoting ILOVEA340 (Reply 4):
Now in it's true definition an aircraft could be arrested as well but this would be done by way of a arrestor cable

Or an arrestor bed, which JFK has had some incidents with.

Harry



Why grab a Heine when you can grab a Busch?
User currently offlineLipeGIG From Brazil, joined May 2005, 11416 posts, RR: 59
Reply 7, posted (8 years 2 months 1 day 23 hours ago) and read 16974 times:
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FORUM MODERATOR

Quoting Adriaticus (Reply 2):
Isn't VRE owned by ILFC?

777 owned by ILFC are PP-VRA and PP-VRB, both received by Varig directly from Boeing.

Quoting Adriaticus (Reply 2):
Felipe, I believe the word you're looking for is "sequestered", or "seized". Only a person, an individual, can be arrested.

Sorry for my mistake, and thanks for the correction.

Quoting Dutchjet (Reply 5):
Is there any hope that VARIG can get additional financing to pay its past debts pending the auction of the airline, as described in another thread?

The problem is the lack of time. It takes at least 45 days to the auction, and up to that moment, RG cash flow is not enough to pay lessors.

Felipe

[Edited 2006-05-25 00:46:28]


New York + Rio de Janeiro = One of the best combinations !
User currently offlineDutchjet From Netherlands, joined Oct 2000, 7864 posts, RR: 57
Reply 8, posted (8 years 2 months 1 day 23 hours ago) and read 16948 times:

Quoting LipeGIG (Reply 7):
Sorry for my mistake, and thanks for the correction.

If only all of us here could write and understand Portugese as well as you write and understand English...........

In any case, another sad day for VARIG.


User currently offlineCBPhoto From United States of America, joined Dec 2003, 1551 posts, RR: 5
Reply 9, posted (8 years 2 months 1 day 23 hours ago) and read 16861 times:

How exactly does a company go about seizing an aircraft of that size??? Are the police envolved, do they tow the aircraft to a remote stand, to they alert the crew that is taking the return flight? From what I understand, on the smaller planes, a person (pilot) from the company actually take the airplane and fly it to another location. Hope Varig can figure out something quick. It would be very sad to see them go!
Thanks



ETOPS: Engines Turning or Passengers Swimming
User currently offlineWjcandee From United States of America, joined Jun 2000, 5105 posts, RR: 18
Reply 10, posted (8 years 2 months 1 day 23 hours ago) and read 16811 times:

Quoting CBPhoto (Reply 9):
How exactly does a company go about seizing an aircraft of that size??? Are the police envolved, do they tow the aircraft to a remote stand, to they alert the crew that is taking the return flight?

As a very general, non-legal explanation, the Sheriff or Constable serves legal papers on whomever, and takes official possession of the aircraft. Any efforts by anyone to interfere with the Sheriff's possession can be prosecuted as a criminal matter.


User currently offlineBicoastal From , joined Dec 1969, posts, RR:
Reply 11, posted (8 years 2 months 1 day 23 hours ago) and read 16786 times:

What a cool job to be an aircraft Repo-Man!!!

Seeing how this aircraft has only one engine....which is why it has been at JFK so long, it's not being flown out anytime soon. Likely they just need to show the JFK airport authorities who has legal ownership, install another engine, pay any past due bills at JFK and away it flies to the home of the new lessee.


User currently offlineTeixeim From United States of America, joined May 2005, 131 posts, RR: 0
Reply 12, posted (8 years 2 months 1 day 11 hours ago) and read 16162 times:

I hope to someday read a complete explanation of Varig's downfall identifying the responsible parties. With Delta, we know one of the responsible parties was Mullin, for example. Amazing how respected and successful companies can fall so far so quickly.

User currently offlineDeaphen From India, joined Jul 2005, 1425 posts, RR: 1
Reply 13, posted (8 years 2 months 1 day 10 hours ago) and read 15703 times:

anyone care to post a picture of the aircraft?


I want every single airport and airplane in India to be on A.net!
User currently offlineSU From Russia, joined Apr 2004, 360 posts, RR: 2
Reply 14, posted (8 years 2 months 1 day 10 hours ago) and read 15703 times:

My flight in a couple of weeks from GRU to LHR and then to CPH was replaced from MD11 to 777. Hot happy about the change as was hoping to get on MD11 for a long time now. How Many 777s does Varig still have that are operational and why did they switched from MD11 to 777?


"Life is too short to take it serious..."
User currently offlineLatinAviation From United States of America, joined Nov 2003, 1276 posts, RR: 15
Reply 15, posted (8 years 2 months 1 day 10 hours ago) and read 15415 times:

Quoting LipeGIG (Thread starter):
Brazilian press reported this late afternoon that one of the best RG aircrafts, a 777-200ER under registration PP-VRE (this A/C was grounded at UA facilities in JFK for more than a month with only one PW engine) has been seized by it's lessor due to unpaid lease installments.

I just checked the US Bankruptcy Court docket on this and I could not find a motion to allow the aircraft to be seized. There was a court hearing yesterday, but the judge affirmed his ruling that lessors could not seize RG's aircraft. Of course, the leasing companies all filed complaints to this motion and there is another hearing next week, so more news may develop in the interim.


User currently offlineAF022 From France, joined Dec 2003, 2147 posts, RR: 1
Reply 16, posted (8 years 2 months 1 day 9 hours ago) and read 15188 times:

Quoting LipeGIG (Thread starter):
Brazilian press reported this late afternoon that one of the best RG aircrafts, a 777-200ER under registration PP-VRE (this A/C was grounded at UA facilities in JFK for more than a month with only one PW engine) has been seized by it's lessor due to unpaid lease installments.

Who is the lessor?


User currently offlineDoor5Right From United Kingdom, joined Dec 2005, 707 posts, RR: 16
Reply 17, posted (8 years 2 months 1 day 9 hours ago) and read 15113 times:

Quoting Myt332 (Reply 1):
Will it be taken downtown and questioned?

LOL - that did make me laugh, Mr. Myt332!



My soul is in the sky...
User currently offlineKJFK31L From United States of America, joined Jan 2006, 148 posts, RR: 0
Reply 18, posted (8 years 2 months 1 day 9 hours ago) and read 15074 times:

Quoting Myt332 (Reply 1):
Will it be taken downtown and questioned?

The aircraft is currently boarding the subway, heading to downtown Manhattan. This will be an "open-air" trial. Permanent wheel chocks have been installed in lieu of cuffs.

In all seriousness, this is an unfortunate situation. Why not wait till the aircraft had landed at a more convenient scheduled destination to seize it. It seems that a confiscation at JFK--so far from company headquarters--would be a large headache for Varig administrators.

Matt



If it's not Boeing, I'm not going.
User currently offlineDutchjet From Netherlands, joined Oct 2000, 7864 posts, RR: 57
Reply 19, posted (8 years 2 months 1 day 9 hours ago) and read 14967 times:

Look for a special episodes of CSI:NY concerning this event.....or will it be Law and Order: Special Airplanes Unit?

User currently offlineKrisYYZ From Canada, joined Nov 2004, 1593 posts, RR: 0
Reply 20, posted (8 years 2 months 1 day 9 hours ago) and read 14759 times:

Isn't RG running out of long-haul aircraft? This isn't the first time RG had a aircraft seized. If RG knows that they can't pay the lease payment why not just return them, why go through the humiliation of having an aircraft seized?

KrisYYZ


User currently offlineDC10Forever From Brazil, joined Oct 2005, 82 posts, RR: 0
Reply 21, posted (8 years 2 months 1 day 9 hours ago) and read 14704 times:

The correct word for this case is "repossession". The lessor can take possession of the aircraft in case of default of the lease agreement.


Better one flying than two grounded
User currently offlineLipeGIG From Brazil, joined May 2005, 11416 posts, RR: 59
Reply 22, posted (8 years 2 months 1 day 9 hours ago) and read 14553 times:
AIRLINERS.NET CREW
FORUM MODERATOR

Quoting Teixeim (Reply 12):
I hope to someday read a complete explanation of Varig's downfall identifying the responsible parties. With Delta, we know one of the responsible parties was Mullin, for example. Amazing how respected and successful companies can fall so far so quickly.

Me too, at Varig we have FRB and all their management (RG main shareholder). RG use to be one of the best airlines with a huge cash flow, now it's a shame.

Felipe



New York + Rio de Janeiro = One of the best combinations !
User currently offlineLeskova From Germany, joined Oct 2003, 6075 posts, RR: 70
Reply 23, posted (8 years 2 months 1 day 9 hours ago) and read 14502 times:

Quoting KJFK31L (Reply 18):
Why not wait till the aircraft had landed at a more convenient scheduled destination to seize it. It seems that a confiscation at JFK--so far from company headquarters--would be a large headache for Varig administrators.

While I don't know the actual legal background and reasoning, I'll just say this - it'll have to do with two factors: first of all, the plane can probably best be reposessed within the US, so JFK is as good as any other US destination that RG flies to.

And the location of RG's HQ isn't of interest to the reposessing party - they're interested in protecting their assets - and, I'm guessing that the lessor is a US based company, that's something that's best done through a US court.

It isn't their job to make life easier for RG - since RG hasn't done much to make theirs any easier... if RG had, in other words if RG had made the contractually agreed payments, it would not have come to this.

Hope that clears it up a bit.

Regards,
Frank



Smile - it confuses people!
User currently offlineLipeGIG From Brazil, joined May 2005, 11416 posts, RR: 59
Reply 24, posted (8 years 2 months 1 day 9 hours ago) and read 14312 times:
AIRLINERS.NET CREW
FORUM MODERATOR

Quoting KrisYYZ (Reply 20):
Isn't RG running out of long-haul aircraft? This isn't the first time RG had a aircraft seized. If RG knows that they can't pay the lease payment why not just return them, why go through the humiliation of having an aircraft seized?

Yes, and next month they need to return one more M11 (PP-VTH) due to the end of the lease agreement (that's why they drop LIS recently).
I agree with you and in this particular case, it seems even positive to return a grounded plane (why not 1 or 2 years wet lease ?) and avoid one more lease monthly expense that couldn't generate revenue.

Felipe



New York + Rio de Janeiro = One of the best combinations !
25 Post contains images RayChuang : The big question right now is that if Varig (RG) goes out of business can TAM take up the slack for a Brazilian-based intercontinental airline?
26 SFORunner : As this is NY, two rather large men in a white van pulled up to the 777, used baseball bats to break the front landing gear, and threatened to break
27 Post contains links and images SafetyDude : Here's a picture I took in March. I couldn't get a shot with the engines. Sorry for the low quality, but it was hard to take a decent pic. -Will
28 KrisYYZ : What a shame!!! I hate to see a great T7 just sitting on the ground collecting dust when it could be making some airline proud. Not to mention RG, it
29 SeeTheWorld : When I was doing consulting work for Air Afrique in Abidjan in February 2001, one of their A300s was seized/repo'd at CDG. I thought I had heard, but
30 Post contains links ChiGB1973 : ar·rest ( P ) Pronunciation Key (-rst) v. ar·rest·ed, ar·rest·ing, ar·rests v. tr. To stop; check: a brake that automatically arrests motion; a
31 Post contains images DAYflyer : Yeah! I mean, like do you get the keys??
32 Post contains images Cloud4000 : Aside from the fact that UA has few of them out in the desert.
33 777WT : I don't think they're in the desert anymore, the lessors found new owners for it.
34 TR763 : Hey Lipe! According to jetsite.com.br, the lessor is US Bank NA, which is represented by a juridical company called Bristol Associates, who realized t
35 CO7e7 : What about LY ?? Weren't they looking for extra jets ?
36 Alitalia744 : the bird is sitting by the AA mx hangars at JFK as of this morning.
37 Gr8Circle : I believe it says somewhere that the aircraft has been lying around with only one engine for more than a month.......
38 LipeGIG : Thanks TR763, i believe the lessor explained to the lessor that Varig is not in condition to obtain the missing engine and a grounded plane is not he
39 Kaddyuk : We laugh at Alex ALL the time...
40 Post contains images BMIFlyer : Like your style One sweet lookin 777 there Lee
41 Post contains images JAGflyer : When I grow up I want to be an airplane repo man! heh such a cool job.
42 Post contains images Drinkstrolley : Can everyone please shut up about correcting his English, it has been corrected by the A.Net Crew Member and has f*** all to do with the 777 in quest
43 LTU932 : LY operates Trent powered 777s. RG operates a mixed fleet of -200ERs and -200As with GE90s and PW4000s. And VRE is powered with PW4000s. It wouldn't
44 Amax1977 : UA goes to Kuwait?!!!
45 Tbird : ***Deleted by user***[Edited 2006-05-26 00:44:02]
46 Post contains links ChiGB1973 : http://news.yahoo.com/s/afp/20060524.../uskuwaitairtransport_060524180302 M
47 Kanebear : Given that the A/C was sitting on the tarmac for over a month due to lack of funds to repair it I don't view this as a bad thing at all. RG is no long
48 LipeGIG : Some additional info: - Lease payment delayed: 2 months = US$ 1,8 million - Days elapsed since RG returned the PW engine to the lessor: 43 days - Aver
49 Post contains images DAYflyer : Perhpas it will be used as a single engine out ETOPS test bed airframe
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