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Boeing Gives Brazil’s Moribund Varig a Break

Varig, Brazil-based airline, announced this Wednesday, January 4, in Rio de Janeiro, the closing of a financing agreement with Boeing Capital Corporation of United States, to fix six MD-11 airplane engines.

The agreement will allow the company to bring back to operation two airplanes that were undergoing maintenance.

Varig’s President, Marcelo Bottini, mentioned the importance of the agreement in this moment, when the company is in bankruptcy court for reorganization.

In his evaluation, Boeing’s measure represents an act of faith in Varig’s future and in its market recovery.

According to Varig’s press service, the company’s goal is to total 64 aircrafts until the end of the month, going beyond what was established in the recovery plan for the first semester.

If everything happens as expected, the company may end 2006 with more than the 69 airplanes determined by the plan. According to the company, the operation of these units will allow it to offer "perfect domestic and international services".

ABr

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