Caribbean Airlines to own Air Jamaica within days

[Duane 3NE 2NR]

KINGSTON, Jamaica, January 14, 2010 - Trinidad and Tobago's state owned Caribbean Airlines is now just days away from taking over Jamaica's national carrier.

A deal in which Air Jamaica will be absorbed into the Trinidad airline is expected to be consummated this weekend, according to a Jamaica government announcement.

Under the plan, Caribbean Airlines will grant Air Jamaica equity, but the Jamaican government will have to find J$27 billion (US$301.6 million) in this year's capital expenditure budget to meet debt and other costs, including the redundancy of hundreds of employees. It is believed that several hundred workers will be on the breadline as a result of the divestment.

Other details of the deal have not yet been released.

And just days ahead of the long-expected divestment, a new Board has been appointed by the Minister of Finance and the Public Service, Audley Shaw.

The five-member team, put in place this week following the expiration of the term of the previous Board, will oversee transitional arrangements and legacy issues surrounding the Air Jamaica divestment.

The new Board is led by businessman and Chairman of the Insurance Company of the West Indies (ICWI) Group, Dennis Lalor. The other members are Christopher Zacca, Special Adviser to the Prime Minister; Dr Wayne Henry, Special Adviser to the Minister of Finance and the Public Service; Sancia Templer, President of Jamaica Trade and Invest; and Christopher Berry, Chairman of Mayberry Investments.

In addition, an Air Jamaica transition management committee has been set up to help guide the divestment process. That will be led by the airline's President and CEO Bruce Nobles.

The divestment of Jamaica's national carrier is coming much later than originally hoped.

Prime Minister Bruce Golding had announced, in April 2008, government's plans to divest the airline by the end of that financial year.

He had said the decision was taken because government could no longer pile the losses of the airline on the backs of taxpayers "with no end in sight". Air Jamaica at that time had accumulated losses of over US$1 billion.

http://www.caribbean360.com/News/Busine ... 10057.html

[pyromaniak]

Caribbean Arlines one step closer to living up to their name

But can CA really handle that burden?

[janfar]

'Air Jamaica serves the Caribbean with a modern and efficient fleet. Our planes include seven Airbus A-320s, one A-321, and one A-319.'

http://www.airjamaica.com/OurFleet.aspx

[crazybalhead]

waaaaaaaaay. Pressure...

[Maserati]

a mere 1 billion USD in losses

[Pit-Crew]

The question is now people with this acquisition are we set to see an even further hike in the price of inter-caribbean travel.

Since BW..........err sorry.............CA took over as the sole provider to certain routes, airfare increased in cases more than 50%. Then they cited BS reasons as the price of fuel which incidentally dropped more than a year ago.

Wait for it ppl, pretty soon the only way to fly the high skies of Jamrock will be with herb fuel!!!

[bluesteel29]

It is believed that several hundred workers will be on the breadline as a result of the divestment.

that iz pain

[RASC]

I know there are people here wishing that this partnership fails so they can scream "I TOLD YOU SO"/

Time will tell, y'all already know where I stand on this.

[crazybalhead]

The question is now people with this acquisition are we set to see an even further hike in the price of inter-caribbean travel.

Since BW..........err sorry.............CA took over as the sole provider to certain routes, airfare increased in cases more than 50%. Then they cited BS reasons as the price of fuel which incidentally dropped more than a year ago.

Wait for it ppl, pretty soon the only way to fly the high skies of Jamrock will be with herb fuel!!!

It's already very expensive top fly to JA with CA. There are no air Jamaica flights from Trinidad to JA anyhow.

[Duane 3NE 2NR]

^ its more expensive to fly from T&T to Jamaica than it is to fly from T&T to New York sometimes

Caribbean Airlines also recently acquired another 737 to its fleet

[Pit-Crew]

Let the total Caribbean monopoly begin!!!

[RASC]

Let the total Caribbean monopoly begin!!!

We already kinda do monopolize most things in the region

[Pit-Crew]

Let the total Caribbean monopoly begin!!!

We already kinda do monopolize most things in the region

More monopolies!!!! So sayeth the Emperor!!!

[RASC]

Let the total Caribbean monopoly begin!!!

We already kinda do monopolize most things in the region

More monopolies!!!! So sayeth the Emperor!!!

Ok so, you rather the other countries run things.

You have REAL faith hoss

[Emil]

So far Lok Jak running CA good, let's hope he handles this just as well.
I really hope they would introduce a decent priced inter island jet service to compliment the water ferry service scheduled to launch soon as well.

[Pit-Crew]

RASC, doh get me wrong ya know, I am all for progress. As long as this merger/acquisition/takeover stays a business deal and no politics or politicians get involved, we good.

However, the problem is, invariably as CA is a partially governmental enterprise, dat ain't gonna happen!!!

I am all for a single unified Caribbean carrier servicing all routes at affordable prices. But affordable and CA within the Caribbean does not go hand in hand.

So, in your own words "time will tell!"

[Maserati]

Did CA turn a profit last fiscal year?
how do we measure good performance? by positive customer reviews?making a profit every year? good service?

[eliteauto]

This merger smells of private sector type thinking..............which I like

[Pit-Crew]

Just hope it doesn't get fowled up by public sector mentality and BS!

[pablo_tt]

'Air Jamaica serves the Caribbean with a modern and efficient fleet. Our planes include seven Airbus A-320s, one A-321, and one A-319.'

http://www.airjamaica.com/OurFleet.aspx

Only notable thing about those aircraft is the fly-by-wire set up. Other than that, absolutely nothing!

[roadhog]

i wonder which one of AJ planes will get lost in the mix and turn up as patrick's toy.

[Monk BANzai]

So far Lok Jak running CA good, let's hope he handles this just as well.
I really hope they would introduce a decent priced inter island jet service to compliment the water ferry service scheduled to launch soon as well.

was now about to say this...Lok Jack raelly holdign his own with CA...man doing things.

[UML]

these idiots......dey putting we in eternal debt in every aspect of governance

jamaica saving the burden of their taxpayers and trinidad taking it up

we buss with BWEE and we bordering/running at a loss with CA...so we take up an additional loss...my lord...dottish is an understatement!!!!

all dis during ah recession eh!!!!!!!!! but tings hard to send money tuh haiti

AFRICA......I coming!!!!

[5onDfloor]

these idiots......dey putting we in eternal debt in every aspect of governance

jamaica saving the burden of their taxpayers and trinidad taking it up

we buss with BWEE and we bordering/running at a loss with CA...so we take up an additional loss...my lord...dottish is an understatement!!!!

all dis during ah recession eh!!!!!!!!! but tings hard to send money tuh haiti

AFRICA......I coming!!!!

UML,do us all a favor book a flight ti HAITI and do some Humanitarian work and take yuh boyfriend EVO-STI-k along for the ride.

[cornfused]

these idiots......dey putting we in eternal debt in every aspect of governance

jamaica saving the burden of their taxpayers and trinidad taking it up

we buss with BWEE and we bordering/running at a loss with CA...so we take up an additional loss...my lord...dottish is an understatement!!!!

all dis during ah recession eh!!!!!!!!! but tings hard to send money tuh haiti

AFRICA......I coming!!!!

UML,do us all a favor book a flight ti HAITI and do some Humanitarian work and take yuh boyfriend EVO-STI-k along for the ride.

I'll put a please with that or even drop them in Lagos or Kingston's 11- 17

[zoom rader]

So let me understand this. The PNM could not maintain caroni that had losses of half billion TT per year but perfer to maintain Air Jamaica with losses of 0.9 Billion US per yr.
Does this make sence? They refuse to bail out hindu credit union but help out air jamaica. I guess they will rename it PNM Air lines

[eliteauto]

^^HCU was mismanagement on a small scale versus say CL Financial, isn't that old news by now??? As for Caroni remember the closure plan was drafted by the UNC and executed by the PNM with the largest and sweetest VSEP package ever in T&T

[RASC]

So let me understand this. The PNM could not maintain caroni that had losses of half billion TT per year but perfer to maintain Air Jamaica with losses of 0.9 Billion US per yr.
Does this make sence? They refuse to bail out hindu credit union but help out air jamaica. I guess they will rename it PNM Air lines

[5onDfloor]

^^HCU was mismanagement on a small scale versus say CL Financial, isn't that old news by now??? As for Caroni remember the closure plan was drafted by the UNC and executed by the PNM with the largest and sweetest VSEP package ever in T&T

DITTO!!!

[UML]

DONE DEAL!!!!!!


Jamaica is ah TOURIST DESTINATION and BUSSING and Trindad & Tobago taking up this dead weight in a recession!!!!!!