Varig plane seized in NYC for non-payment

Varig has confirmed to Dow Jones news wire that leasing company Bristol Associates seized a Boeing 777 in its service at JFK Airport in New York due to non-payment.This was confirmed to Dow Jones by a Varig spokesman on Thursday.

The plane had been out of action for 43 days, awaiting maintenance, and therefore won’t immediately be missed.

“Varig had not been officially notified of the repossession. Representatives of the leasing firm seized the plane on Wednesday after presenting themselves to authorities as the owner of the aircraft,” said a Varig spokesman.

Varig has been in trouble for several years amid mounting debts that total about BRL8 billion. The company sought bankruptcy protection in July 2005.
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