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REDjet seeks capital injection
Low fare airline REDjet, which commenced flying to Jamaica a week ago, is seeking an US$8 million capital injection.
The money is needed to allow it to keep fulfilling its investors’ mandate to provide affordable air transport for Caribbean people ––otherwise, the future of the airline could be in jeopardy.
The revelation has come from REDjet’s largest investor, Ralph Williams.
Mr. Williams says US$8 million, which was earmarked for operating expenses, had to be used otherwise.
He explained that now that the airline, which employs close to 100 people, is finally getting routes to fly, the funds have been exhausted.
Low fare airline REDjet, which commenced flying to Jamaica a week ago, is seeking an US$8 million capital injection.
The money is needed to allow it to keep fulfilling its investors’ mandate to provide affordable air transport for Caribbean people ––otherwise, the future of the airline could be in jeopardy.
The revelation has come from REDjet’s largest investor, Ralph Williams.
Mr. Williams says US$8 million, which was earmarked for operating expenses, had to be used otherwise.
He explained that now that the airline, which employs close to 100 people, is finally getting routes to fly, the funds have been exhausted.
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