Varig's new 1 billion dollar deal

[Mad Dog 11]

Have heard and read that Varig might negotiate a one billion dollar influx of cash with Boeing and GE in exchange for stocks. If this is true, then we are looking at a new Varig from now on since this will be more than enough to offset its debt. Anyone has more info??

[AeroBoero]

How would that be possible?
And even so , isn't a guy with a strange name (of japanese origin) that thinks the pilots are THE problem of RG?
With a new money injection...wouldn't the actual structure compromise the company in a time in a not so distant future? (like Sabena for example...what good does to have money but have a managament that throws it away?)
Aircrafts are the money makers..with less aircraft..less money..but with same number of employees (and I mean non-technical ones) I think the math will be negative.. <img src="confused.gif" border="0">

AB

[ 11 January 2002: Message edited by: AeroBoero ]</p>

[AeroBoero]

I heard that RG is thinking on cut the individual rooms in nightstops and stop paying the Aerus to the guys over 55.
That's not very good news.....if it's true.

AB

[Bokomoko]

Varig, GE and Boeing deal:
Until now only rumors and speculation from some Brazilian newspapers. Absolutely nothing official.

Concerning individual rooms, Aerus and etc.:
Varig has substituted some expensive hotels (e.g. JFK and MIA) and has kept individual acommodation and per diem. However they are no longer paying their part to Aerus for any pilot over 55.

[ 15 January 2002: Message edited by: Bokomoko ]</p>

[Claudio Antonio C.]

I ask those more deeply envolved with RG matters:. .What about the admition program that Rg is holding since Jan 01? I believe they have picked some 200 guys to put them to fly as co-pilot. What are their situation right now? I mean, are they in, or not yet? Are they out, or not yet? How long would it take to RG to absorb all this number of guys? if Rg still plans to do so.. .I hope this rumors (true or not) be some better to the company in the very near future.

[Bokomoko]

Cavok, I'm not sure how many pilots were hired since 2001, however Varig laid off 50 F/O this month. What caused this situation? Absence of a good planning, 9/11 events, and consequently traffic adjustments and fleet reduction, are some typical examples (or excuses, if you prefer). In fact, nobody that works at Varig Flight Operations Dept. can say or predict when they will return or how long pilots from the pool must wait until new admissions.. .By the way, unfortunately bad news is coming: TAM has announced that will reduce its international flights to FRA, ZRH and MVD. It's rumored that layoffs will occur. Rumors or realities it's a difficult moment for everyone involved with Brazilian commercial aviation issues.. .But, let's wait...and think positively!

[AeroBoero]

Go figure!. .TAM is dropping FRA / ZRH and MVD. On the FRA/ZRH no wonder..I came with them mid December back to the land of the frogs,via FRA, and total pax number was 56. Not a good utilization...Paris route seems to be OK. They are saying that 200 C/A will be dismissed. I don't know if they are still planning Rome or Madrid..but with everyone doing that route...they should go to a place where there isn't that much competition from Brazil...like here <img src="smile.gif" border="0"> KLM is doing daily flight with good occupation...go figure again.

. .AB