ChileÆs Lan Air to assist Varig
Lan Air has reached an agreement with Varig to provide the Brazilian airline with a $17.1 million loan would make Lan a minority shareholder in the carrier, according to a report in the Miami Herald.
The loan is expected to help Varig, which is struggling to reestablish itself after a 2006 bankruptcy and the approval of a new ownership structure, with it cash flow.
Chile-based Lan provided the loan in an agreement that gives it an exclusive option for shares, the report said.
Chile’s Lan Air to assist Varig
