1. Airlines bank on Brazilian economy
- Author
-
Pilling, Mark
- Subjects
Viacao Aerea Sao Paulo S.A. -- Finance ,Varig S.A. -- Finance ,Transbrasil Sociedad Anonima Linhas Aereas -- Finance ,Airlines -- Brazil ,Aerospace and defense industries ,Business - Abstract
Brazil's three major airlines, Varig, Transbrasil, and Viacao Aerea Sao Paulo (VASP), have been engaged in an unprofitable market-share struggle since 1990, when VASP was privatized. All three expect to report losses of at least $33 million for 1991. The carriers are basing their hopes for a return to profitability on renewed Brazilian economic growth. Varig and Transbrasil also hope to secure government payouts of $500 million and $218 million, respectively, in return for money they say they lost when air fares were frozen from 1985 to 1987.
- Published
- 1992