Air Transport World

Varig and TAM. (Latin America Report).(two Brazilian airline companies report first quarter earnings)(Brief Article)(Statistical Data Included)

Varig and TAM posted encouraging financial results for the 2002 first quarter. Varig reduced its loss to 135 million reais ($51.2 million) in the Jan.-March period from R$196 million last year. TAM recorded a modest but significant R$15 million profit against a R$100 million net loss last year. …

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