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Serious discussions are underway with three prospective investors in Air Jamaica, who have been given a raft of options to consider.
The Air Jamaica Privatization Committee provided the update a few days ago to Minister without Portfolio in the Ministry of Finance, Senator Don Wehby says the Government remains fully focused on attracting serious investors by March 31, 2009, the deadline set for the privatization.
Mr. Wehby said trying to keep Air Jamaica could result in a forced closure because of the lack of funds to carry the airline, especially in the context of the present world economic downturn and the hard demands being made on the national budget.
The strategic investor will be required to agree to a number of areas which including maintaining Air Jamaica's identity, effectively controlling and managing the airline and ensuring that the fleet composition and route structures are operated at optimal levels of efficiency.
Work to privatise the airline began almost 10 months ago. Air Jamaica, which has been racking up billions of dollars, last week announced a plan to cut some of its routes and send home workers later this month.
Union representatives have been calling on the Airline to put those plans on hold.
http://www.radiojamaica.com/content/view/15335/26/
The Air Jamaica Privatization Committee provided the update a few days ago to Minister without Portfolio in the Ministry of Finance, Senator Don Wehby says the Government remains fully focused on attracting serious investors by March 31, 2009, the deadline set for the privatization.
Mr. Wehby said trying to keep Air Jamaica could result in a forced closure because of the lack of funds to carry the airline, especially in the context of the present world economic downturn and the hard demands being made on the national budget.
The strategic investor will be required to agree to a number of areas which including maintaining Air Jamaica's identity, effectively controlling and managing the airline and ensuring that the fleet composition and route structures are operated at optimal levels of efficiency.
Work to privatise the airline began almost 10 months ago. Air Jamaica, which has been racking up billions of dollars, last week announced a plan to cut some of its routes and send home workers later this month.
Union representatives have been calling on the Airline to put those plans on hold.
http://www.radiojamaica.com/content/view/15335/26/
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