Air Transport World

Varig.(Latin America/Caribbean report)(airline reports financial results)(Brief Article)

Varig posted a 5.1 million reais ($1.7 million) operating profit in the Jan.-Sept. period, representing a 7% increase over the same period in 2002. Favorable currency movements were cited as the main reason for the good result, followed by cost-cutting measures such as fleet downsizing and layoffs. …

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