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No Air Jamaica sale, no IMF - Divestment of national carrier tied to negotiations with lending agency
Dominique Strauss-Kahn, managing director of the IMF.
WESTERN BUREAU:
The US$200-million divestment cost of the national carrier Air Jamaica could be one of the major factors causing the delay in concluding negotiations with the International Monetary Fund (IMF).
The deadline to wrap up the IMF loan was originally slated for September. Then the date was moved to October, then to November.
Last week, Prime Minister Bruce Golding told Jamaica Labour Party supporters at a meeting in Kingston the date would again be shifted and pointed to a time closer to Christmas
.
"The decision in relation to the divestment of Air Jamaica is tied into the negotiations with the IMF because of the cost implication to the Govern-ment," Information Minister Daryl Vaz said in an interview with The Gleaner/Power 106 News yesterday.
Vaz's comment gave led to dialogue that the divestment was now contingent on the signing of an accord between the Bruce Golding-led administration and the IMF.
Negotiations continues
He gave the assurance that negotiations with at least two investors to partner with the Government to run the airline were continuing and he was backed by the airline's president and CEO, Bruce Nobles.
"Talks were continuing to divest the national carrier; however, I am not able to comment on the IMF talks," said Nobles.
"I am not involved in discussions with the IMF at all, I am running Air Jamaica, so I suggest that you actually talk with the Government. It's the first time I have heard that," he added.
Back on the market
But while officials on the home front speak of continuing negotiations, Tourism Minister Edmund Bartlett was quoted last week in London saying that Air Jamaica was now back on the market for divestment.
A JIS release cited the tourism minister while he addressed a community meeting, shortly after attending the World Travel Market in the British city.
"We are working now to see if we can get partnerships to share in the cost of operating Air Jamaica. We have had some discussions but I think that those discussions have not quite materialised, so I think Air Jamaica is back on the market
. We are still seeking to find a partner. We are not interested in selling off Air Jamaica in full. Jamaica will always maintain a significant interest in Air Jamaica but we need partnerships to keep the airline alive," he told the gathering.
When The Gleaner contacted Minister of Finance Audley Shaw last night, he declined to comment on the issue, saying he first needed to speak with Vaz on the matter.
janet.silvera@gleanerjm.com
Dominique Strauss-Kahn, managing director of the IMF.
WESTERN BUREAU:
The US$200-million divestment cost of the national carrier Air Jamaica could be one of the major factors causing the delay in concluding negotiations with the International Monetary Fund (IMF).
The deadline to wrap up the IMF loan was originally slated for September. Then the date was moved to October, then to November.
Last week, Prime Minister Bruce Golding told Jamaica Labour Party supporters at a meeting in Kingston the date would again be shifted and pointed to a time closer to Christmas
."The decision in relation to the divestment of Air Jamaica is tied into the negotiations with the IMF because of the cost implication to the Govern-ment," Information Minister Daryl Vaz said in an interview with The Gleaner/Power 106 News yesterday.
Vaz's comment gave led to dialogue that the divestment was now contingent on the signing of an accord between the Bruce Golding-led administration and the IMF.
Negotiations continues
He gave the assurance that negotiations with at least two investors to partner with the Government to run the airline were continuing and he was backed by the airline's president and CEO, Bruce Nobles.
"Talks were continuing to divest the national carrier; however, I am not able to comment on the IMF talks," said Nobles.
"I am not involved in discussions with the IMF at all, I am running Air Jamaica, so I suggest that you actually talk with the Government. It's the first time I have heard that," he added.
Back on the market
But while officials on the home front speak of continuing negotiations, Tourism Minister Edmund Bartlett was quoted last week in London saying that Air Jamaica was now back on the market for divestment.
A JIS release cited the tourism minister while he addressed a community meeting, shortly after attending the World Travel Market in the British city.
"We are working now to see if we can get partnerships to share in the cost of operating Air Jamaica. We have had some discussions but I think that those discussions have not quite materialised, so I think Air Jamaica is back on the market
. We are still seeking to find a partner. We are not interested in selling off Air Jamaica in full. Jamaica will always maintain a significant interest in Air Jamaica but we need partnerships to keep the airline alive," he told the gathering.When The Gleaner contacted Minister of Finance Audley Shaw last night, he declined to comment on the issue, saying he first needed to speak with Vaz on the matter.
janet.silvera@gleanerjm.com
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