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 US Department of Justice (DOJ) is taking another 10 days to review Alaska Air Group’s proposed acquisition of Hawaiian Holdings, with the airlines now agreeing not to close their planned deal before the period ends on 15 August.
Air New Zealand has axed its interim climate targets, stating that measures needed to meet the target were unaffordable and not readily available.
Southwest Airlines will end its signature “open” seating model and offer premium seating options as it seeks new revenue sources to address concerns around the business’s performance.
