TAP's plan to purchase a 20% stake in debt-laden Varig has been approved tentatively by the Brazilian government, the Associated Press reported. The two airlines confirmed on May 16 the signing of an MOU to hold exclusive talks aimed at a "capitalization" of Brazil's flag carrier. The MOU had a three-week time span.

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.