CaribWorldNews, KINGSTON, Jamaica, Thurs. May 14, 2009: Jamaica`s national carrier, Air Jamaica, could soon be sold to one of two interested parties.
Jamaica Minister without Portfolio in the Ministry of Finance and the Public Service, Senator Don Wehby, has confirmed that two offers have been received for the privatization of the financially strapped carrier.
Speaking at the inaugural Scotia DBG Investments’ Corporate Investment Seminar, at the Hilton Kingston Hotel on Tuesday, Wehby said the offers are currently being reviewed and evaluated, before being taken to Cabinet.
The senator maintained that the administration remains committed to privatizing the airline.
`It cannot continue to be a drain on taxpayers. We must find a win-win situation, because the airline has a lot of potential, and what it needs is capital. That is our mandate. Let us find the capital and recapitalize Air Jamaica with a partner, and I think we are getting there,` Senator Wehby said.
Air Jamaica is one of several state-owned non-core entities, racking up significant debts, which the administration is attempting to divest.