Varig is understood to have sought permission from the court handling its bankruptcy protection filing to start negotiations to sell its cargo subsidiary VarigLog. Although Varig has not officially confirmed the deal, sources say that the sale would be part of the airline’s restructuring plan. If approved, VarigLog will be sold to the US-based Matlin Patterson investment fund for $38 million, with Varig retaining a small stake in the divsion.
Source: Flight International
The Star Alliance carrier plans to reach C$30 billion in annual revenue in four years and to exceed that figure by decade’s end.
Canada’s Transat AT reports a profitable fiscal fourth-quarter boosted by a C$34 million ($25 million) compensation agreement with geared turbofan (GTF) engine maker Pratt & Whitney.
Air Canada is set to become the latest North American airline to offer free wi-fi access to passengers, disclosing on 12 December plans to begin rolling out the service in May.
