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Thread: YARDIE UNION DOH WaH DE TRINI DEM TEK AIR JAMAICA

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    Registered Member VINCYPOWA's Avatar VINCYPOWA is offline
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    YARDIE UNION DOH WaH DE TRINI DEM TEK AIR JAMAICA

    JAMAICA: Union against sale of Air Jamaica to Trinidadian entity

    Posted by admin on 1/25/10 •

    Categorized as Finance/Business, Jamaica


    "I can't believe that the government would spend J$28 billion (US316.9 million) to give away one of our best assets," Morrison said.

    KINGSTON, Jamaica, CMC – The powerful National Workers Union (NWU) on Monday said it is against the sale of the cash-strapped national airline, Air Jamaica, to the Trinidad-based Caribbean Airlines (CAL).

    NWU president, Vincent Morrison, told the Jamaica Observer newspaper that his union believes the airline should be kept in local hands and that the 1,900 workers are more than equipped to run the airline that racked up huge losses over the last four decades.

    “I can’t believe that the government would spend J$28 billion (US316.9 million) to give away one of our best assets,” Morrison said.

    Last week, the airline’s chief executive officer, Bruce Nobles, told workers that the deal with CAL may be signed soon.

    In a memorandum to staff, he said bidders for Air Jamaica were narrowed down to two finalists – one being Indigo Partners, the owners of several airlines, including Spirit airlines; and the other, Caribbean Airlines, owned by government of Trinidad and Tobago.

    Nobles stated that Air Jamaica’s divestment committee initially recommended that an agreement be reached with Indigo partners but informed that after several months of negotiations, the two sides were unable to reach an agreement. The government then turned to Caribbean Airlines.

    The Bruce Golding administration has not confirmed that a deal has been reached with CA, but the Prime Minister has said that the government hopes to conclude an agreement soon.

    Jamaica is seeking to borrow US$1.25 billion from the International Monetary Fund (IMF) under the agency’s Standby Arrangement for balance of payment support, and among the conditions is the divestment of loss-resulting entities like Air Jamaica, for budget relief.

    “We are going to communicate with the government both in writing and hopefully in a meeting to know the status of the discussions with Caribbean Airlines,” said Morrison, whose trade union represents some of the workers at Air Jamaica.

    “We hope to convince the Government that selling out to Caribbean Airlines is not the best,” Morrison told the newspaper.

    The NWU’s strategy is have the government write off the debt, which is estimated to reach US$1.4 billion, by the end of the fiscal year in March, something which, according to Morrison, would be offered to Caribbean Airlines.

    The airline would be run under the Employee Share Ownership Plan (ESOP), a sophisticated stock ownership, which would see 100 per cent ownership falling into the hands of workers.

    “The workers are saying to the government: put the legacy into a fund from which the workers would be prepared to use their redundancy payments to run the airline. We would also be looking to float an IPO (Initial Public Offer) to involve Jamaicans at home and in the Diaspora, where we ask Jamaicans abroad to invest. Apart from getting a Paul Getty or someone with big money, that’s how you have to go,” Morrison said.

    He added that Caribbean Airlines “does not have the capability, logistically and operationally” to deal with running Air Jamaica.

    “If Air Jamaica is taken over by Caribbean Airlines, you could see a tremendous fallout in the Jamaican economy. Air Jamaica contributes J$6 billion (US$67.9 million) to the economy…Getting rid of 1,900 Air Jamaica employees would also indirectly affect the jobs of a further 10,000, plus there are other issues involved,” Morrison said.

    Members of the Jamaica Airline Pilots Association have also proposed that the government use a portion of the funds being set aside for redundancy to recapitalise the airline and put it in a position to live on its own.

    Morrison is firm in his view that if the workers are allowed to run the entity as their own, there would be a turnaround in its economic fortunes.

    “Air Jamaica has never been properly capitalised since its inception. The workers over the years have made sacrifices. Some have worked for five years and more, without salary increases.

    “Some have given back to the airline, in terms of salary cuts, so the commitment and love for the airline are there. The redundancy money could be used to recapitalise the airline.

    “The brand Air Jamaica is golden. That would be gone if Caribbean Airlines takes over. The Air Jamaica brand is like Usain Bolt in terms of quality and this country should not give that up,” Morrison told the Observer newspaper.

    JAMAICA: Union against sale of Air Jamaica to Trinidadian entity | Caribbean Daily News

  2. #2
    Registered User BAJANFUHLIFE is offline
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    good fuh de yardies, i tired of hearing dem trini air hosts sounding like air hostesses.

  3. #3
    17 61 Ingram_Gordon's Avatar Ingram_Gordon is offline
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    i was sympathetic up until the Bolt reference
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    Banned Fantastic - Nick is offline
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    jamaicans are so pathetic...

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    Sagattarius notorious saga's Avatar notorious saga is offline
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    Let those ackee eating, bulla cake nyaming, beef batty chomping yardies travel to and from foreign on a damn banana boat and let Caribbean airlines keep servicing the rest of the Caribbean that appreciate flying with T&T airways. man say air JA is like bolt LOL, how the frig they could be like bolt? bolt flying cross the finish line while air Jamaica plane dead last crying in a corner of the locker room.
    Man ah Barbeerian bound tuh be by de bar beer in meh hand beastly cold.

  6. #6
    Who feels it knows it! Georgeflash's Avatar Georgeflash is offline
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    Quote Originally Posted by notorious saga View Post
    Let those ackee eating, bulla cake nyaming, beef batty chomping yardies travel to and from foreign on a damn banana boat and let Caribbean airlines keep servicing the rest of the Caribbean that appreciate flying with T&T airways. man say air JA is like bolt LOL, how the frig they could be like bolt? bolt flying cross the finish line while air Jamaica plane dead last crying in a corner of the locker room.
    Yuh sound like yuh get service by a jumbo jet fi real.
    Last edited by Georgeflash; 01-25-2010 at 07:35 PM.

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    Registered User BAJANFUHLIFE is offline
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    Quote Originally Posted by notorious saga View Post
    let those ackee eating, bulla cake nyaming, beef batty chomping yardies travel to and from foreign on a damn banana boat and let caribbean airlines keep servicing the rest of the caribbean that appreciate flying with t&t airways. man say air ja is like bolt lol, how the frig they could be like bolt? Bolt flying cross the finish line while air jamaica plane dead last crying in a corner of the locker room.
    lol

  8. #8
    Habitual Enabler Stagga_Dagga's Avatar Stagga_Dagga is offline
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    Quote Originally Posted by notorious saga View Post
    Let those ackee eating, bulla cake nyaming, beef batty chomping yardies travel to and from foreign on a damn banana boat and let Caribbean airlines keep servicing the rest of the Caribbean that appreciate flying with T&T airways. man say air JA is like bolt LOL, how the frig they could be like bolt? bolt flying cross the finish line while air Jamaica plane dead last crying in a corner of the locker room.

    Disclaimer:
    Many of you can't keep Jamaica outa yuh mouth. Its ok, we understand you can't help it. Envy is a helluva thing. But let it be known. If you've never been to mi yawd your comments about mi yawd shall hereby be stricken as nuttin but verbal defecation. Walk good.


    Yes I am a superhero. Sarcasm is my superpower.

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    ah too rude!! Olokun's Avatar Olokun is offline
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    Quote Originally Posted by Ingram_Gordon View Post
    i was sympathetic up until the Bolt reference
    STATUS UPDATE: (6/11/11)
    Nigerians are great people

  10. #10
    Spranga
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    lol like dey been readin IMIX

  11. #11
    17 61 Ingram_Gordon's Avatar Ingram_Gordon is offline
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    Quote Originally Posted by Olokun View Post
    when i think Bolt, i dont think 316.9 million usd debt
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  12. #12
    Links30
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    U understand, the bolt comment was a bit over rated. Either way, if the employees were to run the airline, i do not think that is a bad idea, but the amount of debt Air Jam has taken on, it is pretty much too late at this point. Either way, the Air Jamaica brand is pretty much worthless when it comes to paper, i think anyone could buy it for $1, what Jamaicans need to do is focus on rebuilding their economy and coming up with new business innovations that can turn a profit. Once those things are in order, then they can very much restart another airline, just like how our government did with BWIA now CAL. So i understand the bitterness, but come on, its business.

  13. #13
    Registered User marabunta is offline
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    Quote Originally Posted by VINCYPOWA View Post
    JAMAICA: Union against sale of Air Jamaica to Trinidadian entity

    Posted by admin on 1/25/10 •

    Categorized as Finance/Business, Jamaica


    "I can't believe that the government would spend J$28 billion (US316.9 million) to give away one of our best assets," Morrison said.

    KINGSTON, Jamaica, CMC – The powerful National Workers Union (NWU) on Monday said it is against the sale of the cash-strapped national airline, Air Jamaica, to the Trinidad-based Caribbean Airlines (CAL).

    NWU president, Vincent Morrison, told the Jamaica Observer newspaper that his union believes the airline should be kept in local hands and that the 1,900 workers are more than equipped to run the airline that racked up huge losses over the last four decades.

    “I can’t believe that the government would spend J$28 billion (US316.9 million) to give away one of our best assets,” Morrison said.

    Last week, the airline’s chief executive officer, Bruce Nobles, told workers that the deal with CAL may be signed soon.

    In a memorandum to staff, he said bidders for Air Jamaica were narrowed down to two finalists – one being Indigo Partners, the owners of several airlines, including Spirit airlines; and the other, Caribbean Airlines, owned by government of Trinidad and Tobago.

    Nobles stated that Air Jamaica’s divestment committee initially recommended that an agreement be reached with Indigo partners but informed that after several months of negotiations, the two sides were unable to reach an agreement. The government then turned to Caribbean Airlines.

    The Bruce Golding administration has not confirmed that a deal has been reached with CA, but the Prime Minister has said that the government hopes to conclude an agreement soon.

    Jamaica is seeking to borrow US$1.25 billion from the International Monetary Fund (IMF) under the agency’s Standby Arrangement for balance of payment support, and among the conditions is the divestment of loss-resulting entities like Air Jamaica, for budget relief.

    “We are going to communicate with the government both in writing and hopefully in a meeting to know the status of the discussions with Caribbean Airlines,” said Morrison, whose trade union represents some of the workers at Air Jamaica.

    “We hope to convince the Government that selling out to Caribbean Airlines is not the best,” Morrison told the newspaper.

    The NWU’s strategy is have the government write off the debt, which is estimated to reach US$1.4 billion, by the end of the fiscal year in March, something which, according to Morrison, would be offered to Caribbean Airlines.

    The airline would be run under the Employee Share Ownership Plan (ESOP), a sophisticated stock ownership, which would see 100 per cent ownership falling into the hands of workers.

    “The workers are saying to the government: put the legacy into a fund from which the workers would be prepared to use their redundancy payments to run the airline. We would also be looking to float an IPO (Initial Public Offer) to involve Jamaicans at home and in the Diaspora, where we ask Jamaicans abroad to invest. Apart from getting a Paul Getty or someone with big money, that’s how you have to go,” Morrison said.

    He added that Caribbean Airlines “does not have the capability, logistically and operationally” to deal with running Air Jamaica.

    “If Air Jamaica is taken over by Caribbean Airlines, you could see a tremendous fallout in the Jamaican economy. Air Jamaica contributes J$6 billion (US$67.9 million) to the economy…Getting rid of 1,900 Air Jamaica employees would also indirectly affect the jobs of a further 10,000, plus there are other issues involved,” Morrison said.

    Members of the Jamaica Airline Pilots Association have also proposed that the government use a portion of the funds being set aside for redundancy to recapitalise the airline and put it in a position to live on its own.

    Morrison is firm in his view that if the workers are allowed to run the entity as their own, there would be a turnaround in its economic fortunes.

    “Air Jamaica has never been properly capitalised since its inception. The workers over the years have made sacrifices. Some have worked for five years and more, without salary increases.

    “Some have given back to the airline, in terms of salary cuts, so the commitment and love for the airline are there. The redundancy money could be used to recapitalise the airline.

    “The brand Air Jamaica is golden. That would be gone if Caribbean Airlines takes over. The Air Jamaica brand is like Usain Bolt in terms of quality and this country should not give that up,” Morrison told the Observer newspaper.

    JAMAICA: Union against sale of Air Jamaica to Trinidadian entity | Caribbean Daily News
    A Successful Business Enterprise run by Working Class Jamaicans..........

    ........would send Shock Waves throughout the Caribbean and Intensify Class Struggle throughout the Region and around the World!

  14. #14
    17 61 Ingram_Gordon's Avatar Ingram_Gordon is offline
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    Quote Originally Posted by Bago20 View Post
    U understand, the bolt comment was a bit over rated. Either way, if the employees were to run the airline, i do not think that is a bad idea, but the amount of debt Air Jam has taken on, it is pretty much too late at this point. Either way, the Air Jamaica brand is pretty much worthless when it comes to paper, i think anyone could buy it for $1, what Jamaicans need to do is focus on rebuilding their economy and coming up with new business innovations that can turn a profit. Once those things are in order, then they can very much restart another airline, just like how our government did with BWIA now CAL. So i understand the bitterness, but come on, its business.
    hence why i lost sympathy...

    I have learnt that when you fight a public relations war, you need to be careful of who and what you associate to and wid..

    it's nice that they are tryin to compare to "excellence/present public hype/instant fame", but you are bleeding financially, and it just reflect badly on Bolt...

    I agree wid Marabunta... In a few business i have seen in Antigua, Staff take over has never came to the table, which is sad...
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  15. #15
    Pebbles362436
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    This article was posted VP but I don't have a link. It is very interesting and it looks like as of earlier today last minute sales pitch to acquire Air Jamaica. UPDATE: It is now official - Trindad alone is no longer the sole bidder for Air Jamaica as the GoJ will now engage the Jamaica Pilots Association to determine if there business plan meet the rquirements of the divestment team.
    Go-Jamaica :: Golding cautions prospective buyers of Air Jamaica :: News

    Caribbean Airlines should scrap the idea of a regional carrier as a merger with Air Jamaica will cost taxpayers billions and regional travellers will still face higher prices in the long run, local travel agents have said. “The talk of a regional carrier has been under consideration for decades now, but it requires compromise from the various governments, and none of them are interested in giving up their power or synchronising their regulation to bring down costs and make regional travel more efficient,” said Wayne Rodriguez, president, T&T Travel Agents Association. “Right now, both regional airlines are losing money at a phenomenal rate, so why must we sink more money into such a huge loss making enterprise? We simply cannot afford it at this time. The T&T government needs to focus on its own people, rather than sink hundreds of millions, or even billions of dollars, into this project as we did in the past.

    “The deal sounds like a substitution of the Jamaican government spending money into the failing Air Jamaica, into the Trinidad government spending taxpayers’ money on the airline instead. We cannot take on the cost of bailing out two airlines as Caribbean Airlines is also losing money. “The global economy is struggling and the Caricom tourism industry isn’t reorganising its pricing structure to cater for regional tourism or inter-island travel,” Rodriguez said. Rodriquez said the vast majority of regional resorts and hotels are priced for the high-end US or European vacationer, and that T&T has totally priced itself out of the regional market. “How can you encourage a regional airline and travel industry, when no one in the region can afford to stay in our hotels? It is cheaper to fly from Trinidad to Miami and stay in a hotel there than it is to travel to Barbados, right next door, for your typical vacation.“To me, a lot has to be done before we should even consider a regional airline, and that ground work has not been done, and no one is taking the initiative to make these changes. “Until these issues are addressed, we will just be wasting a lot of money, to fail in the final analysis. “For Trinidadians, this can turn out to be a very contentious issue because we cannot afford to be throwing billions into these airlines when we still have major issues to deal with at home, such as healthcare, social services, education and crime.” “We should not have closed down BWIA in the first place, as that whole process has alienated many of the airline’s stakeholders, including the travel agents who bought in a significant percentage of the airline’s revenues. Selling our airline slots at London at firesale prices was also a wrong decision, and we are still paying for that decision. Right now, British Airways has taken over the London route into the Caribbean, and we have no response to offer.

    “In theory, a regional carrier sounds like a good idea, but practically, it will be a disaster. It was attempted by both government agencies and even the private sector with the (Allen) Stanford-run airline, and they all failed after consuming huge sums of money. “The fundamentals of the regional economy has not changed. In fact, it has become even worse, so you will not have the demand for air travel to warrant this kind of expenditure. “Hotels are not going to adjust their prices to cater for the regional market, and the low demand, as well as indifference among regional governments, will not facilitate competition to bring prices down. This will be a significant loss for taxpayers as well as travellers and it just should not be a project government should consider at this time.”

    Home-grown airline
    Kevin Kenny, president, Trinidad, Hotel, Restaurant and Tourism Association, said, “without competition, a regional airline that has exclusive access to regional transportation will become inefficient and consumers will face higher prices and poor service.” Kenny said most stakeholders providing accommodation and ground services were optimistic about the announcement of a merger, and he’s hoping the authorities were serious about the proposals. “The move has been long overdue,” Kenny said. “It is obvious to all the stakeholders the region needs one airline that is home-grown, with one set of overheads, so it can compete with both international carriers and local providers. “The short answer is that the Caribbean is in dire need of a Caribbean-owned airline that is financially viable. That is the only way to keep fares down to match the large multinational airlines. If we have an airline that has a vested interest in the Caribbean, then we can have more control over our tourism industry.”
    Last edited by Pebbles362436; 01-28-2010 at 06:56 AM.

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