Manufacturing Industry

Brazilian Varig cuts loss in 2004

Airline Industry Information, April 8, 2005

AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD

Brazilian flagship airline Varig announced on Thursday (7 April) a loss for 2004.

The carrier said that its net loss for 2004 was BRL87m, compared to BRL1.8bn in 2003, while net revenue from flights rose to BRL8.2bn from BRL7.5bn.

The Brazilian government is looking for a way to save heavily indebted Varig, reported Reuters.

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