Manufacturing Industry
Negotiations restart between Varig and TAP
Airline Industry Information, July 15, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Struggling Brazilian airline Varig has reportedly restarted talks with TAP Air Portugal.
TAP and Varig had previously been discussing a plan for the Portuguese airline to invest an undisclosed sum in return for a stake of up to 20% in Varig. The talks ended in June when Varig filed for bankruptcy protection.
Varig was recently given 60 days in which to present its restructuring plan.
The Brazilian carrier's press office has said that preliminary talks are also being held with other possible investors.
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