VarigLog deposited an additional $1.8 million Tuesday and Wednesday to keep Varig afloat, according to press reports, while a Rio de Janeiro bankruptcy court, prosecutors and creditors analyzed the freight and logistics company's $500 million bid for the airline (ATWOnline, June 28).

Alaska Airlines yesterday introduced the first of five 737-400 converted freighters to its cargo fleet. The conversion was performed by Pemco World Air Services and is the first for the type, Alaska said. The aircraft replaces a 737-200F. Remaining aircraft, which will be converted into combis, will enter service by the end of 2007 as part of a $100 million expansion and modernization of its cargo operation. It will retire seven dash 200Fs. The dash 400 fleet will increase freight capacity by 20%.

Embattled EADS Co-CEO Noel Forgeard insisted Wednesday that he will not resign despite the recent disclosure of major new delays in the A380 program and growing questions about his March sale of €2.5 million ($3.2 million) in stock options three months prior to EADS' stock sinking 26% on news of the setbacks (ATWOnline, June 19).

SkyEurope Airlines yesterday announced the conversion of five 737-700 purchase rights into firm orders, bringing its commitment to the 737 to 21. The five aircraft, which the airline said have an estimated value of $295 million, will be equipped with winglets and are scheduled for delivery in 2008. SkyEurope currently operates five dash 700s and still holds 11 purchase rights for aircraft to be delivered through 2010.

Embraer President and CEO Mauricio Botelho said he is pleased with the success of the company's new Phenom very light jet program to date and expects to capture one-third of the market and produce up to 1,000 VLJs. Speaking at the Aero Club of Washington yesterday, Botelho said, "We believe the VLJ will play an important role in the transportation market," citing its "exceptional performance and lower operating costs." The first Phenom delivery is expected in 2008. Botelho also said Embraer expects to deliver its 100th ERJ-145 later this year.