Court Orders Brazil's Varig To Give Back Planes | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 07.20.15

Airborne 07.21.15

Airborne 07.22.15

Airborne 07.23.15

Airborne 07.24.15

Airborne Hi-Def On YouTube

Airborne 07.20.15

Airborne 07.21.15

Airborne 07.22.15

Airborne 07.23.15

Airborne 07.24.15

EAA/ANN AirVenture Innovation Preview

AIP-#1 Vimeo

AIP-#2 Vimeo

AIP-Part 1 YouTube

AIP-Part 2 YouTube

Tue, Jun 13, 2006

Court Orders Brazil's Varig To Give Back Planes

As Many As 10 Airliners To Be Returned

It's not looking good for Varig, the Brazilian airline that has seen its fortunes go from bad to worse in the past month.

After an unsuccessful auction failed to attract a buyer for the troubled airline in May, the New York Supreme Court has ordered Varig to turn over a number of its planes to various plaintiffs, including Boeing.

Reuters reports the court injunction calls for Varig -- which declared bankruptcy in 2005 -- to stop operating those planes Monday, and return them to the plantiffs by June 16. The injunction also called for Varig's non-operating aircraft to be returned to owners by July 1.

That means the storied carrier, founded in 1927, will have to return as many as 10 planes to Boeing.

Meanwhile, a Brazilian judge is currently debating whether to authorize the sale of the airline. Judge Luiz Roberto Ayoub was to rule on the matter Friday, but postponed his decision after receiving a last-minute bid from the Multilong Corporation, which offered $800 million for Varig.

The first round of bidding failed to produce an offer that met the court's minimum price of $860 million... but the second auction process doesn't have a minimum bid requirement, which may mean Varig will continue to fly after all. Stay tuned.

FMI: www.varig.com

Advertisement

More News

Airborne At OSH15 Day 4 Redux: FAA Says Little, Sun Flyer, 'That's All, Brother'

Also: Jack Pelton Interview - Part 4, Trig Avionics Update, 3rd Class Medical, Part 23 Re-Write, UAVs... FAA Administrator Michael Huerta made his annual speech at AirVenture today>[...]

Debris Found In Indian Ocean Raises Speculation About MH370

Parts Appear To Be Consistent With A B777 Debris that could be from a Boeing 777 has been found off the coast of Reunion Island in the Indian Ocean, raising speculation that it cou>[...]

AD: The Boeing Company Airplanes

AD NUMBER: 2015-15-11 PRODUCT: Certain Boeing Model 747-100B, 747-100B SUD, 747-200B, 747-200C, 747-200F, 747-300, 747-400, 747-400D, 747-400F, 747SR, and 747SP series airplanes.>[...]

AD: Bombardier, Inc. Airplanes

AD NUMBER: 2015-15-07 PRODUCT: Certain Bombardier, Inc. Model DHC-8-400 series airplanes.>[...]

ANN's Daily Aero-Linx (07.30.15)

Establishing A Flying Club Just back from Oshkosh and jazzed to start your own Flying Club? Here's advice on how to get started from EAA.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC