Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
LH-Group/AC To Help UA And Varig Financially  
User currently offlineAndreas From Germany, joined Oct 2001, 6104 posts, RR: 34
Posted (10 years 5 months 4 weeks 1 day 21 hours ago) and read 996 times:

For those who are able to read German:
http://www.ftd.de/ub/di/1037978721007.html?nv=5wn

CEO Weber told FTD Germany that he and Robert Milton, CEO of AC, are willing to help UA with a loan of approx. USD 200mn., in the case of Varig no amount was mentioned. As indicated earlier, at least LH is not willing to buy shares in UA.
Furthermore LH and UA negotiated a much more intensive cooperation on the transatlantic routes (whatever that means), that will bring UA an additional USD 90mn. turnover per year.
The loan will be granted by LH and AC directly and not via Star Alliance.
Another quote from CEO Weber during a meeting of Star Alliance CEOs in Rio de Janeiro: If shareholder value would have been the only thing I apply managing LH, UA would have gone bankrupt years ago.
Interesting...


I know it's only VfB but I like it!
2 replies: All unread, jump to last
 
User currently offlineAir_Chick_757 From Brazil, joined May 1999, 187 posts, RR: 0
Reply 1, posted (10 years 5 months 4 weeks 1 day 21 hours ago) and read 981 times:

I don´t know if this was mentioned yet, but Varig´s president resigned last night.

User currently offlineAndreas From Germany, joined Oct 2001, 6104 posts, RR: 34
Reply 2, posted (10 years 5 months 4 weeks 1 day 21 hours ago) and read 977 times:

Currently UA seems to be the main case, as, if I understand correctly, Varig still needs to negotiate a financial restructuring with all its stakeholders. Only then a loan would be granted. In the case of UA cash should flow rather promptly.
Thanx!

Regards

Andreas


I know it's only VfB but I like it!
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
WAY To Go UA And Aa! posted Wed Mar 13 2002 05:19:54 by Alexinwa
UA And AC To LIS posted Sun Jan 23 2005 16:48:54 by Hardiwv
LH Starts A346 To YYZ And B744 To BLR Today posted Mon Oct 9 2006 07:11:48 by DABVF
Hot: Embraer And Varig Close To Deal 4 Embraer 190 posted Wed Sep 6 2006 03:52:26 by LipeGIG
International Flights To Aid DL And UA Recovery posted Mon May 15 2006 00:50:39 by VV701
Great LH Fares From Germany To SIN, HKG And ATL posted Thu Feb 16 2006 16:40:33 by Sabena332
Egyptair And Varig To Co-Operate posted Tue Nov 8 2005 21:23:00 by Horus
Emirates And AC To Fly YYZ-DXB! posted Sun Oct 16 2005 06:49:03 by RicardoFG
UA And AA To Start ZED Fares For Employees posted Mon Jul 11 2005 23:10:42 by FA4UA
Ama, Would It Help Ua To Have Regular Service? posted Mon Apr 25 2005 05:25:31 by Garri767