Wed, 08 February 2012
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LATEST | HEADLINES :
 
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| New deadline for Air Jamaica's sale |
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 The deadline for the completion of
negotiations for the sale of Air Jamaica has been shifted from March
31, 2009 to the end of June 2009.The cabinet minister with responsibility for Air Jamaica , Don Wehby, while acknowledging that the March 31 deadline would not be met, said significant progress has been made in the privatization effort. In a statement March 31, 2009 Wehby revealed that he has a meeting scheduled for mid-April with an international airline group from which the privatization committee has already received an indicative offer for Air Jamaica . Wehby says the investor buying Air Jamaica must satisfy five key criteria including financial stability; extensive airline industry knowledge and the provision of reliable airlift on certain key routes. Air Jamaica is costing Jamaica over 150 million U.S. dollars annually and has outstanding debt of over six hundred million U.S. dollars or nearly fifty-three billion Jamaican dollars. |
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