Wasn`t this an IMS Pea customer??

Brazil judge approves sale of Varig, which cancels several flights

Posted by sn26567 on Friday, June 23 @ 11:14:54 CEST

``A Brazilian judge on Monday approved the sale of Varig airline to the employees group NV Participacoes.

Rival airlines are already discussing how to share out Varig`s routes.

The embattled Brazilian airline Varig has been forced to cancel 67 of its 180 daily flights amid mounting fears of financial collapse. Varig said it will no longer fly to New York and Los Angele, for the time being, leaving Miami, as the gateway to United States. It also canceled some flights to other Latin American countries and to Europe, but will continue flying to London and Frankfurt. An additional 14 of Varig`s planes also are grounded because it cannot afford to pay maintenance costs, leaving it with just 35 in the air of a total fleet of 60.

Wednesday Varig cancelled routes to Milan; Munich; Madrid; Paris; New York; Los Angeles; Mexico City; Montevideo, Asuncion; and Bogota.

An employees` group of Brazilian airline Varig contacted a state bank on Tuesday seeking loans to pay for the bidding for the staggering company.