Air Jamaica Bides Time, Announces New Deadline

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"The airline's management, employees and their unions, as well as customers and other stakeholders, are fully aware of the need to put the airline in a better financial position, and we are appreciative of their understending and support. Given our common interest in seeing an improvement in the balance sheet, I fully endorse all efforts to make the restructuring and the privatization as painless as possible in these difficult economic times," Senator [Don Wehby] added.

Air Jamaica mandates that the incoming investor be financially stable and able to capitalize the airline adequately; have extensive industry knowledge and expertise to turn around the company and make it financially viable; control and manage the operations effectively, ensuring a positive return on the investment being made and reducing the cost on the fiscal accounts; provide reliable airlift service on certain key routes to and from Jamaica; and be willing to maintain the carrier's Jamaican identity.

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Air Jamaica Bides Time, Announces New Deadline

NEW YORK (April 1, 2009)-Unable to meet this week's deadline to privatize Air Jamaica, the government of Jamaica is bidin...

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