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Thread: JAMAICA OWNS 16% of CARIBBEAN AIRLINES

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    Registered User marabunta is offline
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    JAMAICA OWNS 16% of CARIBBEAN AIRLINES

    BWIA shareholders unhappy over CAL/Air Jamaica deal
    NADALEEN SINGH
    Published: 30 Apr 2010
    NADALEEN SINGH

    The BWIA Minority Shareholders Group (BMSG) is not pleased that the Jamaican government has been given 16 per cent shareholding in Caribbean Airlines Ltd (CAL). Peter Permell, coordinator of the group, said his membership was offered a $0.20 per share on BWIA shares, while the Jamaican government got 16 per cent ownership. The BMSG was formed after BWIA was shut down in December 2006. The group comprises flight attendants, pilots and other former employees of BWIA.

    The group was not pleased about the value which was placed on the shares and made repeated calls to the Government to increase the value. That matter is now before the court. On Wednesday, Arthur Lok Jack, chairman of CAL, announced that the Jamaican government would have 16 per cent ownership of CAL, once the transition process to merge the two airlines was complete. In a statement Thursday, Permell said there were repeated calls for members of the BMSG to receive a better value for the shares that they owned in BWIA.

    Referring to legacy costs, Permell said he was relieved the Government would not be absorbing any of those costs when the transition was over. The court matter between the BMSG and the State about the value of the shares, is scheduled for next week. Lok Jack said on Wednesday that the T&T Government plans to invest US$50 million into Caribbean Airlines Ltd (CAL) so that its operating and capital expenditure can be met on May 1 when CAL takes over Air Jamaica’s “profit-making” routes.

    CAL had been in talks with a divestment team from the International Monetary Fund (IMF), which was appointed to look after Air Jamaica’s affairs after that airline’s debts mounted to unsustainable levels.
    When the transition takes place, T&T’s CAL would have 84 per cent ownership and the Jamaican government 16 per cent. The Jamaica Information Service has reported that the Jamaican government is spending an estimated US$200 million to meet Air Jamaica’s outstanding obligations during the transitional period.


    BWIA shareholders unhappy over CAL/Air Jamaica deal | The Trinidad Guardian

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    JA Soca Ambassador socapineman is offline
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    marabunta,


    F all that BS...talk...lets...make some $....CAL, is it publicly traded ? ....if so, it is just a matter of time before this tank.......when the " smoke " clear and the Republic of T&T realizes that they got conned, out-smart again.....my take in this....is " fix you own shit first " MFs in Trinidad....outside of the Indians who running shit catching hell like every other black man in the W.I. .....same issue in JA, MFs biggin up their Chest while the ruling class is living well...so I say F the politics....short the hell out of this stock and others...they are all crooks !






    You of all , i expect better from ....leave that for MFs who dont know better...bout we own you and all the other BS......tell me again who own what ?....you of all know these head of states, PMs....all need shots to buss at them period......unlike the good old USA.....20 mllion is allocated to a project, they shake you down for about 5 million....in JA, that same 20 mil goes towards a project such as highwys...MF eat off 15mil, then stop the project,.....boy, its about time you make some loot of this BS....leave the debate to the clueless !

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    Registered User Inquistive is offline
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    Soca, you seet.

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    JA Soca Ambassador socapineman is offline
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    Quote Originally Posted by optimizm View Post
    Soca, you seet.
    Wll, how you see it ? ......this is just paper being traded, how is debating this or someone feeling they so call " own " something helful unless you living well or have shares to short or cash out .

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    Registered User Inquistive is offline
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    Quote Originally Posted by socapineman View Post
    Wll, how you see it ? ......this is just paper being traded, how is debating this or someone feeling they so call " own " something helful unless you living well or have shares to short or cash out .
    They just using it for pride.


    The only thing that deviates Trinidad from the rest of the WI is its development. Who is attributed to it? The Syrians and the Indians are the catalysts for Trinidad's development while the black people just as poor as their fellow WI.

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    JA Soca Ambassador socapineman is offline
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    Quote Originally Posted by optimizm View Post
    They just using it for pride.


    The only thing that deviates Trinidad from the rest of the WI is its development. Who is attributed to it? The Syrians and the Indians ( running shit) are the catalysts for Trinidad's development while the black people just as poor as their fellow WI.
    Ok....yeah, I see you know what time it is, debate dun, lol. Going on Flatbush now to look at some A$$.

  7. #7
    Notchilous ladyrastafari's Avatar ladyrastafari is offline
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    Quote Originally Posted by optimizm View Post
    They just using it for pride.


    The only thing that deviates Trinidad from the rest of the WI is its development. Who is attributed to it? The Syrians and the Indians are the catalysts for Trinidad's development while the black people just as poor as their fellow WI.

    please get real.. not all indians are rich and not all black people are poor.. but the point is... Trinidad is being developed and every trini will benefit from that development.. those who have no work can get jobs on teh projects, the buildings that are being built will be used by all.. stop nitpicking over shit..
    Never waste your time trying to explain who you are to people who are committed to misunderstanding you.

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  8. #8
    Spranga
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    Quote Originally Posted by optimizm View Post
    They just using it for pride.


    The only thing that deviates Trinidad from the rest of the WI is its development. Who is attributed to it? The Syrians and the Indians are the catalysts for Trinidad's development while the black people just as poor as their fellow WI.
    lol @ trying to divide Trinidad to at least make the black ppl look bad. go miami and post up some pix of blacks sleepin on d pavement fuh we.

  9. #9
    Norman SWAGGERIFIC is offline
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    Do not want to get into bashing anyone, I do not understand why most Jamaicans are saying that they are not gonna travel on CAL. That is stupid because Jamaica have controlling interests in this. Why don't they juss try to get the economy back on a great footing where they can get someone to buy back the airline from TNT or better yet form a new airline in the future.
    GREATNESS IS ALL I KNOW

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