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 06.29.15

Airborne 06.30.15

Airborne 07.01.15

Airborne 06.25.15

Airborne 06.26.15

Airborne Hi-Def On YouTube

Airborne 06.29.15

Airborne 06.30.15

Airborne 07.01.15

Airborne 06.25.15

Airborne 06.26.15

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 07.01.15: Hexacopter Shot, E Hampton Airport, Eclipse 'Special Edition'

Also: Airport Discrimination, Jeff Skiles, EAA Chapters, NBAA's Quiet Guidelines, United Consolidates, Dreamliner Display, Iraqi General F-16 Loss Whether it’s federal regula>[...]

ANN's Daily Aero-Linx (07.02.15)

UK Apache Resource Center If you ever need to find the production date of a specific Apache helo operating in the UK armed forces, you've come to the right place!>[...]

ANN's Daily Aero-Term (07.02.15): Major Repairs

A repair that (1) if improperly done, might appreciably affect weight, balance, structural strength, performance, powerplant operation, flight characteristics, or other qualities a>[...]

Aero-News: Quote Of The Day (07.02.15)

"Houston has been at the forefront of aviation history and innovation for decades." Source: Houston Aviation Director Mario C. Diaz, on the grant of an FAA Spaceport License for El>[...]

California Cop Tells UAV Owner That His Aircraft Creates 'Suspicion Of A Crime'

Had Been Capturing Images Of The Orange County Sheriff's Department Station The creator of the YouTube channel The Junkyard News was capturing images of the Orange County Sheriff's>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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