The resignation was first reported in the Guardian newspaper Wednesday in a story that quoted Minister of Transport Devant Maharaj as confirming that Nicholas had sent a letter asking to be relieved of his responsibilities as chairman.
“Yes. I can confirm this. I am in receipt of his letter but I cannot say anything more,” the Guardian quoted Maharaj as saying.
The paper said the minister did not give a reason for the chairman's sudden departure.
However industry sources say it has to do with the acquisition of aircraft for CAL. The Express newspaper cited unnamed sources as saying that Nicholas wanted to buy or lease two new Boeing 737-800 planes.
However, it said the Ministry of Finance was of the view that the airline could source three-to seven-year-old aircraft at a much cheaper cost. The list price for a new 737-800 is about US80 million.
The Transport Ministry confirmed the resignation in an official release Wednesday. It said, "Until all the issues have been examined, a determination on the way forward will not be decided upon."
It added, "It would be premature and counterproductive to make any further announcements at this time. All matters are expected to be resolved in the best interest of Caribbean Airlines."
Nicholas was a highly controversial chairman who had made news headlines in connection with several major issues including:
It was also public knowledge that Nicholas did not enjoy the best relationship with members of his board.
On one occasion Warner had to suspend the work of the board after members stated that they could not work with their chairman. On Wednesday Warner told reporters the departure of Nicholas is a "blessing in disguise". He said the whole CAL board is dysfunctional and suggested that the composition of the board should be re-examined.
However, it said the Ministry of Finance was of the view that the airline could source three-to seven-year-old aircraft at a much cheaper cost. The list price for a new 737-800 is about US80 million.
The Transport Ministry confirmed the resignation in an official release Wednesday. It said, "Until all the issues have been examined, a determination on the way forward will not be decided upon."
It added, "It would be premature and counterproductive to make any further announcements at this time. All matters are expected to be resolved in the best interest of Caribbean Airlines."
Nicholas was a highly controversial chairman who had made news headlines in connection with several major issues including:
- the firing of the airline's CEO, Captain Ian Brunton
- the disagreements with his line minister at the time, Jack Warner
- his disapproval of the purchase of ATR aircraft for CAL
- the acquisition of Air Jamaica
- the opposition to REDjet operating a regular service through Trinidad
It was also public knowledge that Nicholas did not enjoy the best relationship with members of his board.
On one occasion Warner had to suspend the work of the board after members stated that they could not work with their chairman. On Wednesday Warner told reporters the departure of Nicholas is a "blessing in disguise". He said the whole CAL board is dysfunctional and suggested that the composition of the board should be re-examined.
No comments:
Post a Comment