Manufacturing Industry
Varig to postpone debt payment
Airline Industry Information, Oct 28, 2002
AIRLINE INDUSTRY INFORMATION-(C)1997-2002 M2 COMMUNICATIONS LTD
Brazilian carrier, Varig has reportedly formed an agreement with its creditors to postpone a USD118m debt payment.
The postponement is expected to help the carrier raise USD900m in new funds which will be raised through its creditors and Brazil's National Development Bank (BNDES). However, the airline must present a viable strategy before the BNDES will invest any money.
The airline is scheduled to meet with its creditors on 30 November 2002 to present the financial restructuring plan, reported Reuters.
((Comments on this story may be sent to aii.feedback@m2.com))
COPYRIGHT 2002 M2 Communications Ltd.
COPYRIGHT 2002 Gale Group
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Most Popular Business Publications
Content provided in partnership with
Presented by American Express