Read more »


Brazil’s Varig May Be Forced to Liquidate

Brazil’s Varig may be forced to liquidate by the end of the week if a group of employees who purchased the bankrupt carrier cannot come up with $75 million by Friday.  The airline is in dire financial straits, going so far as to cancel a third of its flights this week.  A group of airline employees and 2 foreign investors agreed to purchase the carrier for $449 million, but without the initial $75 million payment a bankruptcy judge has said the airline will be forced to liquidate.  Varig is not long for this world…

Did you enjoy this post?
Sign Up to Receive 1 Email Each Day
Join the more than 7000+ people who get 1 email each day with all the airline news, credit card ideas and general nonsense we've provided for more than 10 years.

Comments are closed.