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Air J sale will take some time
Thursday, 27 August 2009
There are signs that the sale of the national airline will not be completed at this time.
The Government says it is still in negotiations with two short-listed bidders for Air Jamaica.
This contradicts earlier statements by the Golding administration that a buyer had been identified for the cash strapped airline and the divestment was close to being completed.
Prime Minister Bruce Golding says one of the bidders is now in Jamaica conducting due diligence.
"Cabinet is deliberating on the matter, we've not yet taken a decision (as) there are a number of issues that must be addressed before a decision is taken, the least of which is cost of the privatization and the impact that that would have on the budget. Those are very weighty issues that must be closely studied," said Mr. Golding at Wednesday's post Cabinet press briefing.
Thursday, 27 August 2009
There are signs that the sale of the national airline will not be completed at this time.
The Government says it is still in negotiations with two short-listed bidders for Air Jamaica.
This contradicts earlier statements by the Golding administration that a buyer had been identified for the cash strapped airline and the divestment was close to being completed.
Prime Minister Bruce Golding says one of the bidders is now in Jamaica conducting due diligence.
"Cabinet is deliberating on the matter, we've not yet taken a decision (as) there are a number of issues that must be addressed before a decision is taken, the least of which is cost of the privatization and the impact that that would have on the budget. Those are very weighty issues that must be closely studied," said Mr. Golding at Wednesday's post Cabinet press briefing.
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