PPVRA
Topic Author
Posts: 7878
Joined: Fri Nov 12, 2004 7:48 am

Efromovich And Varig?

Fri Apr 01, 2005 8:02 am

Strong rumors that Mr. Efromovich is looking into Varig. That would be the second brazilian potential investor (other one being Nélson Tanure, owner of Jornal do Brasil)

Efromovich also controls Ocean Air (a Brazilian regional airline) and Avinca, in Colombia.

I think it would be great if he buys RG...

What are your thoughts on the Efromovich and Varig deal?

PPVRA
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
PPVRA
Topic Author
Posts: 7878
Joined: Fri Nov 12, 2004 7:48 am

RE: Efromovich And Varig?

Fri Apr 01, 2005 8:47 am

Quoting PPVRA (Thread starter):
What are your thoughts on the Efromovich and Varig deal?

Or should I say, potential deal.

Cheers,

PPVRA
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
Summa767
Posts: 1778
Joined: Thu Mar 11, 2004 1:30 am

RE: Efromovich And Varig?

Fri Apr 01, 2005 8:57 am

Wow! That would be good! It would not interfere with Avianca, but rather complement networks in latin America.
Let us not forget the soon to start up Wayra of Peru and a new Ecuatorian airline that will have F100 fleets.
 
PPVRA
Topic Author
Posts: 7878
Joined: Fri Nov 12, 2004 7:48 am

RE: Efromovich And Varig?

Fri Apr 01, 2005 10:08 am

Quoting Summa767 (Reply 2):
Wow! That would be good!

Indeed, and it would be nice to see Avianca in Star Alliance (I'm speculating RG would not leave,a nd AV would likely join too) as well.

Cheers,
PPVRA
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
bongo
Posts: 1783
Joined: Sat Oct 04, 2003 5:32 am

RE: Efromovich And Varig?

Fri Apr 01, 2005 1:26 pm

It is official right now. Mr. Efromovich Already offered USD$ 200 million and would adopt the USD$ 700 million Varig debt. I'm smelling good winds for Avianca !!  Smile
MDE: First airport in the Americas visited by the A380!
 
EMB195ER
Posts: 253
Joined: Mon Sep 13, 2004 3:31 am

RE: Efromovich And Varig?

Fri Apr 01, 2005 10:26 pm

Hi guys!

Bomgo, how do you know that it is official?

Where did you get this information?

Hugs,

EMB195ER
 
aloges
Posts: 14842
Joined: Tue Jan 17, 2006 3:38 am

RE: Efromovich And Varig?

Fri Apr 01, 2005 10:39 pm

Let's hope he won't pull a Canhedo in case he succeeds... I'd hate to see that happen to Avianca and Varig!
Don't cry because it's over, smile because it happened.
 
bongo
Posts: 1783
Joined: Sat Oct 04, 2003 5:32 am

RE: Efromovich And Varig?

Fri Apr 01, 2005 10:52 pm

Quoting EMB195ER (Reply 5):
Bomgo, how do you know that it is official?

Where did you get this information?

TV Local news yesterday night.

As a side note, two days ago Mr. Efromovich went to the ramp dressed with the red uniform and "solved" many problems, incluiding a 767 flight to MAD delay and so on !!!
MDE: First airport in the Americas visited by the A380!
 
bongo
Posts: 1783
Joined: Sat Oct 04, 2003 5:32 am

RE: Efromovich And Varig?

Fri Apr 01, 2005 11:16 pm

Quoting Bongo (Reply 4):
and would adopt the USD$ 700 million Varig debt

That is the figures according the TV news yesterday, however, today's newspaper said that the debt is USD$ 3.6 billion (USD$ 3.600 million).
MDE: First airport in the Americas visited by the A380!
 
PPVRA
Topic Author
Posts: 7878
Joined: Fri Nov 12, 2004 7:48 am

RE: Efromovich And Varig?

Sat Apr 02, 2005 12:51 am

Ok, so I just read on http://www.folha.com.br that RG is to decide on an investor within 8 days... Efromovich is one in the list, however, the Portuguese group Pestana is a favorite. I still think Efromovich has a good chance though, he is Brazilian which means he can invest/buy more than a 20% stake in Varig.

Let's hope something happens soon and it alleviates RG's financial conditions!

Cheers,

PPVRA
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
glennpower
Posts: 92
Joined: Wed Jul 14, 2004 2:41 am

RE: Efromovich And Varig?

Sat Apr 02, 2005 1:14 am

Personally i think anyone who buys into RG is wasting money and time on a huge scale.
And if (and thats a big if) they are successfull in turning the company around,it will take a very long time to make money,if you take into account there massive debt and urgent fleet renewal.
I just think it would be better for RG to go under and let JJ take over there intl destinations,but obviously they do not have enough metal to do that,but one can only hope,as they are without doubt Brazils premier airline.
 
danimarroquin
Posts: 239
Joined: Fri Jan 14, 2005 4:06 am

RE: Efromovich And Varig?

Sat Apr 02, 2005 3:53 am

This could be great for AV , can you imagine VARIG with the colors like AV but in blue and the sun at the tail .Also , this could means that Avianca would have a base of planes like Varig 737 ,767 ,and 777

now , talking about AV :
any other planes with the new colors ?
Are they going to get another 767 ,so they can replace the one that hit the LAN 767 ?
 
Summa767
Posts: 1778
Joined: Thu Mar 11, 2004 1:30 am

RE: Efromovich And Varig?

Sat Apr 02, 2005 4:47 am

I think that with such huge debt, Varig's priority won't be the livery. I think that it's great as it anyway. It is good that there will be a larger base of airplanes.
AV will get more planes this year: 10 F100s, 2 MD83s, a 757 and 2 767s. The one that collided with the LAN one is expected to be on service again shortly as the damage is not serious.
 
JJMNGR
Posts: 924
Joined: Wed May 26, 2004 9:06 pm

RE: Efromovich And Varig?

Sat Apr 02, 2005 4:51 am

TAM has actually 09 A332. The 10th is confirmed for OCT. Think that there are enought aircraft for the main RG routes.
If not, TAM has credit enough in the market to bring more aircrafts if they want

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