Jamaicans abroad upset at sale of Air J

[X]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">my issue is they keeping the debt </div></div>

see what many dont realize is that, the issue IS debt.

Even if the TT deal falls should evaporate, the debt and issues remain.

A broke airline will employ cost cutting to keep in the air.

Cost cuting will most likely affect maintenance and the quality of the product.

I doubt many who beating up them chest will fly Air J if the now the maintenance of the equipment is compromised.
The AA plane for example, may have not exploded into a fireball because of proper maintenance . So despite the pilot's stupidity, the equipment was well maintaned, which resulted in no souls lost.
A airline lacking maintenance is more likely to take lives.

Lets see what the chest beaters will be saying when cost cutting effects starts to become apparent.
Lets see how many will book a flight on &quot;the next airline&quot;.. Leaving &quot;Air Jamaica&quot; (or the ghost of whats left of it) sputtering in the wind..

[RichD]

Re: Diaspora and Air J, urban farms, students, Haiti

well ascording to some the measures in place now make the airline viable if they did not have the debt...so they keeping the debt and &quot;selling&quot; a viable airline.

if they willing to sever the debt from the airline why not do that locally?

[X]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">well ascording to some the measures in place now make the airline viable if they did not have the debt...so they keeping the debt and &quot;selling&quot; a viable airline.

if they willing to sever the debt from the airline why not do that locally? </div></div>
who's keeping the debt after the sale?

[RichD]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: xKs</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">well ascording to some the measures in place now make the airline viable if they did not have the debt...so they keeping the debt and &quot;selling&quot; a viable airline.

if they willing to sever the debt from the airline why not do that locally? </div></div>
who's keeping the debt after the sale? </div></div> the gov of jamaica

[R_C]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: xKs</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">well ascording to some the measures in place now make the airline viable if they did not have the debt...so they keeping the debt and &quot;selling&quot; a viable airline.

if they willing to sever the debt from the airline why not do that locally? </div></div>
who's keeping the debt after the sale? </div></div> the gov of jamaica </div></div>

Make that &quot;the taxpayers of Jamaica&quot;.

[X]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: xKs</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">well ascording to some the measures in place now make the airline viable if they did not have the debt...so they keeping the debt and &quot;selling&quot; a viable airline.

if they willing to sever the debt from the airline why not do that locally? </div></div>
who's keeping the debt after the sale? </div></div> the gov of jamaica </div></div>

that was the pronouncement bout 2 years ago, but thats not the case with this deal with caribbean airlines.

further to that, the deal will rid the govt of racking up even more debt.

[RichD]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: xKs</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: xKs</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">well ascording to some the measures in place now make the airline viable if they did not have the debt...so they keeping the debt and &quot;selling&quot; a viable airline.

if they willing to sever the debt from the airline why not do that locally? </div></div>
who's keeping the debt after the sale? </div></div> the gov of jamaica </div></div>

that was the pronouncement bout 2 years ago, but thats not the case with this deal with caribbean airlines.

further to that, the deal will rid the govt of racing up even more debt. </div></div>

looks like i'm misinformed then.

so tell me whay are the trini's such suckers?

[R_C]

Re: Diaspora and Air J, urban farms, students, Haiti

Who gets the debt xKs ?

[RichD]

Re: Diaspora and Air J, urban farms, students, Haiti

missa shaw did sey :

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">The divestment of Air Jamaica is one of the conditions of the agreement with the International Monetary Fund
, which is expected to sign off on a US$1.25 billion loan facility for Jamaica on Wednesday, January 27.

Shaw said to divest the airline it would cost the Jamaican Government $27 billion (US$300 million).

&quot;We are going to have to pay redundancy; we are going to have to pay a lot of legacy obligations, like the IRS (Internal Revenue Service), which has been owed over US$34 million for the longest while,&quot; he said.

<span style="font-weight: bold">Caribbean Airlines will not be assuming the airline's US$1.3 billion of accumulated debt.

Shaw said much of that liability are monies owed to the Jamaican Government, which, he said, &quot;we will have to absorb over time&quot;.</span></div></div>

here

[X]

Re: Diaspora and Air J, urban farms, students, Haiti

suh &quot;viable&quot; to you is an entity that racks up U$1.25 billion in debt

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"> missa shaw did sey :

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">The divestment of Air Jamaica is one of the conditions of the agreement with the International Monetary Fund
, which is expected to sign off on a US$1.25 billion loan facility for Jamaica on Wednesday, January 27.

Shaw said to divest the airline it would cost the Jamaican Government $27 billion (US$300 million).

&quot;We are going to have to pay redundancy; we are going to have to pay a lot of legacy obligations, like the IRS (Internal Revenue Service), which has been owed over US$34 million for the longest while,&quot; he said.

<span style="font-weight: bold">Caribbean Airlines will not be assuming the airline's US$1.3 billion of accumulated debt.

Shaw said much of that liability are monies owed to the Jamaican Government, which, he said, &quot;we will have to absorb over time&quot;.</span></div></div>

here </div></div>

[R_C]

Re: Diaspora and Air J, urban farms, students, Haiti

How is a receivable a liability (in accounting terms )?

[RichD]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: xKs</div><div class="ubbcode-body"> suh &quot;viable&quot; to you is an entity that racks up U$1.25 billion in debt

</div></div>

i was relying on published statements...

there was an article indicating that the the operators of the airline said that without the debt the day to day operations are making money..i have no access tot he books so i don't know if they are blowing smoke.

[RichD]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Rollin_Calf</div><div class="ubbcode-body">How is a receivable a liability (in accounting terms )? </div></div> good question ...are you talking about the monies owed to the gov? maybe they writing it off as bad debt so it go under liability

[R_C]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Rollin_Calf</div><div class="ubbcode-body">How is a receivable a liability (in accounting terms )? </div></div> good question ...are you talking about the monies owed to the gov? maybe they writing it off as bad debt so it go under liability </div></div>

OK.

One would think however that a government would have a wider variety of options open to them where <span style="font-weight: bold">local </span>receivables are concerned rather than merely writing them off as uncollectable.

Brings Century National Bank to mind. But that's another thread.

[RichD]

Re: Diaspora and Air J, urban farms, students, Haiti

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Rollin_Calf</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Rollin_Calf</div><div class="ubbcode-body">How is a receivable a liability (in accounting terms )? </div></div> good question ...are you talking about the monies owed to the gov? maybe they writing it off as bad debt so it go under liability </div></div>

OK.

One would think however that a government would have a wider variety of options open to them where <span style="font-weight: bold">local </span>receivables are concerned rather than merely writing them off as uncollectable.

Brings Century National Bank to mind. But that's another thread. </div></div>

yes i would think so too.

would be intresting to find out just how much of this debt is owed to the gov and what its for.

too often these deals are done under cover and some people are eating a lot of food off it.