VARIG Announces Restructure Programme

23rd Jun 2005

In recent days, VARIG has been the subject of major speculation in some sectors of the Brazilian media due to the problems which it is currently experiencing. Faced with this intense negative and in many cases contradictory exposure, it is natural that customers, officials and partners might feel concerned about the normal running of VARIG operations. With almost 80 years of flying tradition VARIG’s technical and operational qualities have proven to stand the test of time. Mario Bruni - General Manager for VARIG United Kingdom, explains the companies fundamental position.

“VARIG is now taking advantage of a new Commercial and Financial facility recently introduced into Brazilian law.

- The objective is to utilize a “Chapter Eleven” type facility, only now available, for Brazilian companies needing time to restructure accounts and arrangements with leasing partners and service providers.

- VARIG flight operations are running completely normally and will continue to do so.

- The companies in the VARIG Group continue to offer the widest selection of flights, destinations and seats as in the past.


- VARIG passengers continue to give clear signals that they trust and believe in VARIG. Whilst the company continues to be the leader in the South America’s Domestic and International markets in terms of both passengers carried and the occupancy rates of flights. In addition, the company has registered record reservations for the future.

- The punctuality rates of VARIG flights continue to be among the highest in the industry on a worldwide scale, with an average in excess of 92%.

You see therefore that we remain optimistic and positive about the future of our company and must repeat, that VARIG flight operations are running completely normally and will continue to do so.”


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