JJMNGR
Topic Author
Posts: 924
Joined: Wed May 26, 2004 9:06 pm

Variglog Annoucement

Sat May 06, 2006 6:29 am

VARIGLOG has just announced that is cancelling their propose to invest USD400 MM on an eventual deal in buying VARIG.

http://noticias.uol.com.br/economia/...alor/2006/05/05/ult1913u50106.jhtm
 
CB777
Posts: 1135
Joined: Wed Sep 08, 1999 8:13 am

RE: Variglog Annoucement

Sat May 06, 2006 6:43 am

I am afraid this is the final nail in the coffin..........RIP Varig.
 
hentzz
Posts: 20
Joined: Thu Mar 02, 2006 12:09 am

RE: Variglog Annoucement

Sat May 06, 2006 8:06 am

It seems that the long story of an historic airline has come to an end! R.I.P.
For other south american airlines it is definitely very good.
How long would it take for TAM and GOL to take over all of VARIG's service?
Would there be over-demand in the beginning?
 
JJMNGR
Topic Author
Posts: 924
Joined: Wed May 26, 2004 9:06 pm

RE: Variglog Annoucement

Sun May 07, 2006 7:36 am

Sources says that the domestic market is today less than 15% of market share and this market can be absorbed immediately.
On intl. market VARIG has less than 20% now and it won't be a disaster for the market. TAM and GOL will have to run fast in order not to let intl. carriers to absorb this demand.
 
commavia
Posts: 9651
Joined: Mon Apr 25, 2005 2:30 am

RE: Variglog Annoucement

Sun May 07, 2006 7:40 am

Several questions:

What about that Russian investor?
Is that deal a no-go as well?
Does this, indeed, mean the end for VARIG?
And if so, when will we know for sure?
 
QXatFAT
Posts: 2310
Joined: Fri Feb 24, 2006 3:51 pm

RE: Variglog Annoucement

Sun May 07, 2006 9:25 am

I think I should get a RG flight here soon.  Sad
Don't Tread On Me!
 
JJMNGR
Topic Author
Posts: 924
Joined: Wed May 26, 2004 9:06 pm

RE: Variglog Annoucement

Sun May 07, 2006 10:16 am

The Russian investor is a big mob chief and is being investigated by Interpol so seem much more a money laundry offer than an ivestment.

If it is the end of VARIG? VARIG is already dead...like those old trash movies....every episode of Jason he dies at the end and there are many other movies with Jason...

They should have already closed the doors but they are living-dead.
 
9252fly
Posts: 814
Joined: Thu Sep 22, 2005 7:19 am

RE: Variglog Annoucement

Sun May 07, 2006 10:26 am

If RG does indeed stop operating as an airline,I for one see a great loss to aviation. They are just a shell of what was once a great airline,it's terribly sad to see. I do hope that once the end comes,that their name is never misused like Pam Am's.
 
LipeGIG
Posts: 5048
Joined: Tue May 03, 2005 7:33 am

RE: Variglog Annoucement

Sun May 07, 2006 11:19 am

Quoting Commavia (Reply 4):
What about that Russian investor?
Is that deal a no-go as well?
Does this, indeed, mean the end for VARIG?
And if so, when will we know for sure?

Probably we will receive decisive news on monday. In a meeting with creditors, Varig will decide their future. The government also has the objective to sell RG domestic operations for about US$ 200 to 700 million in order to increase capital on international operations.

Felipe
New York + Rio de Janeiro = One of the best combinations !
 
jetdeltamsy
Posts: 2688
Joined: Tue Nov 14, 2000 11:51 am

RE: Variglog Annoucement

Sun May 07, 2006 12:47 pm

Uh oh. Bad new for VARIG. My brother works for them. He's very distraught about his future there.
Tired of airline bankruptcies....EA/PA/TW and finally DL.

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