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Trinidadian government to assist with Air J sale
Friday, 23 April 2010
There are reports that the Trinidad and Tobago Government has approved US$50 million to assist in the consummation of the Caribbean Airlines-Air Jamaica deal.
This will facilitate the state-owned Trinidadian carrier taking over several profitable routes now being serviced by Air Jamaica.
Trinidad's Trade and Industry Minister, Mariano Browne, while not confirming the sum of money committed to the project, admitted that funds had been approved by the Cabinet.
The money will be used for training pilots and cabin crews, marketing strategies and cover other expenses necessary to sustain the Air Jamaica routes.
He however made it clear that Caribbean Airlines would not acquire any of Air Jamaica's debts nor purchase any of its assets.
This comes in the wake of the United States Department of Transportation (DOT) granting a two-month waiver which will allow Air Jamaica to fly into the US when the Transitional Services Agreement kicks in on April 30.
The news of a financial commitment comes despite continuous assurances from various Trinidadian Government officials that no money would be used in negotiating the deal with Air Jamaica.
Friday, 23 April 2010
There are reports that the Trinidad and Tobago Government has approved US$50 million to assist in the consummation of the Caribbean Airlines-Air Jamaica deal.
This will facilitate the state-owned Trinidadian carrier taking over several profitable routes now being serviced by Air Jamaica.
Trinidad's Trade and Industry Minister, Mariano Browne, while not confirming the sum of money committed to the project, admitted that funds had been approved by the Cabinet.
The money will be used for training pilots and cabin crews, marketing strategies and cover other expenses necessary to sustain the Air Jamaica routes.
He however made it clear that Caribbean Airlines would not acquire any of Air Jamaica's debts nor purchase any of its assets.
This comes in the wake of the United States Department of Transportation (DOT) granting a two-month waiver which will allow Air Jamaica to fly into the US when the Transitional Services Agreement kicks in on April 30.
The news of a financial commitment comes despite continuous assurances from various Trinidadian Government officials that no money would be used in negotiating the deal with Air Jamaica.
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