(Jamaica Observer) – The government will continue absorbing, for at least another three months, the billions of dollars it is costing to keep Air Jamaica flying.
March 31 was the projected date for the divestment of the national carrier, which has been losing over US$150 million (J$13.2 billion) per annum, but that was extended to June, Senator Don Wehby announced on Tuesday.
“The negotiations for privatisation of Air Jamaica are progressing well and the entire process is expected to be completed within another three months – that is, by the end of June, 2009,” a statement from Wehby said.
According to Wehby, a meeting has been scheduled for mid-April with an international airline group from which the Privatisation Committee has already received an indicative offer for Air Jamaica.
“We anticipate that we will be able to advance the negotiating process quite substantially at that meeting,” said Wehby, minister without portfolio in the Ministry of Finance, and who has responsibility for Air Jamaica.
