The Trinidad and Tobago national carrier Caribbean Airlines is expected to conclude an agreement this weekend to take control of Air Jamaica.A report in the Trinidad Express said the change means 900 of Air Jamaica's 1200 staff will lose their jobs. It will also see Air Jamaica cut services to several destinations including Nassau and Orlando, the paper said.
Air Jamaica lost US$90 million last year and is carrying debt of US$900 million.
The Express said Caribbean Airlines is not giving Air Jamaica cash but it will have an equity stake in the airline, which will have to find about US$300 million to deal with the redundancy of workers and aircraft that will be taken out of service.
Prime Minister Patrick Manning told reporters Thursday discussions between the two airlines have "a confidentiality clause" so he cannot comment on the deal, stating that it could prejudice the deal.
1 comment:
There would be no need to us speculate, no need for you to lash out at anyone, if only you and your gouva-ment would only be open and transparent. WHat dotishness about confidentiality clause you talking about Mr. PM, its either Air Jamaica needs help or not, I agree that by helping the airline it would protect the tourist industry and also the economy. But why must there always be so much confidentiality, its not your personal funds, its tax payers money you are squandering. What you are doing is just what Williams did during the last oil boom, when Jamaica said that money pass through this country like a dose of salt.
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