Ciro
Topic Author
Posts: 639
Joined: Mon Aug 16, 1999 5:00 pm

TAM In Merging Talks With Transbrasil

Fri Jan 11, 2002 10:38 am

Tonight, TAM announced its intentions to purchase the remaining parts of Transbrasil, which include airport facilities throughout the country and the route network. The Boeing parked aircraft and the total debt of some U$ 1 Billion would be somehow negotiated. The statement, however, was not clear about the future of the Transbrasil´s employees.

The negotiations will soon start, but I´m afraid the current debt is way too high to be accept as a liability for a possible merger.

I will inform you as we get more news!
The fastest way to become a millionaire in the airline business is to start as a billionaire.
 
Flying-Tiger
Posts: 3923
Joined: Mon Aug 23, 1999 5:35 am

RE: TAM In Merging Talks With Transbrasil

Fri Jan 11, 2002 7:10 pm

As far as I know TAM was the only carrier which offered to take Transbrasil´s staff, GOL and VARIG both made proposals without this. Thus they have an advantage in the negotiations. Final result will (likely) be: TAM takes over TR, disposes of all remaining Boeings (not many) and will start additional long-hauls with the former TR traffic rights as soon as possible. I´ve heard the they have already negotiated additional A330-200 leases with GECAS.

Regards
Flying-Tiger
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