Manufacturing Industry
Transbrasil wants government to pay money owed
Airline Industry Information, Dec 5, 2001
AIRLINE INDUSTRY INFORMATION-(C)1997-2001 M2 COMMUNICATIONS LTD
It has been reported that troubled Brazilian carrier, Transbrasil, will ask the government to take control of the carrier in order to help it avoid bankruptcy.
Transbrasil suspended flights on Monday (3 December) and an unidentified source has told Reuters that the carrier wants the government to `pay what it owes` to help it stay aloft. The government apparently owes Transbrasil about USD136m and it was expected that a formal request for intervention by the Civil Aviation Authority would be made on Tuesday (4 December).
Transbrasil has issued a statement indicating that it is "only suspending operations and not closing its activities indefinitely."
((Comments on this story may be sent to aii.feedback@m2.com))
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