Air J to close by June

[evanovitch]

Wednesday, 20 January 2010
The government has committed to wrapping up the operations of Air Jamaica by June, if a deal with Trinidad and Tobago to take the loss making lovebird falls through.

The administration revealed its intention to initiate liquidation of the airline by June in the Letter of Intent sent off to the International Monetary Fund last week.

Talks are ongoing with the Trinidad state-owned Caribbean Airlines to take Air Jamaica of government books.

A deal was expected to be signed over the past weekend to that end, but it never materialised.

RJR News has learnt there were some sticking points in the negotiation which prevented a final agreement on the divestment of Air Jamaica to Caribbean Airlines.

However, the hope is that the airline will go to the Trinidadians before the end of January.

This will see the government spending $27 billion in redundancy, aircraft lease and other payments.

<span style="font-weight: bold">bwoy mi memba di fuss time di airline tek awf...di big big headline in di paper was AIR JAMAICA FLIES TODAY..dere was a picture of di plane wid di Love Birds standing infront along wid di flight crew...

guess di lass dat di headlines shud seh AIR JAMAICA STOP FLY TODAY </span>

[Tuff Gong]

Re: Air J to close by June


In all the IMF Agreements and the various discussions on Air Jamaica over the years the Governments have never made details available even after the fact.
Of course when the JLP is power is a totally different ball game. The Comrades and their little helpers in the media will try to pry every detail out of the JLP Government, then spill it on the from pages of Jamaican Media even if it ultimately hurts Jamaica's position.

If I was purchasing Air Jamaica and the negotiations were not completed, on seeing this I would immediately close my wallet and get up from the table.
Why pay for something when you can wait a few months and pick up pieces of it off the floor for nothing?

Publication of this kind of information renders Air Jamaica's worth to zero.