 |
February 11, 2008 |
|
|
|
 |
AIR JAMAICA: Postpones Meeting With Workers Union Air Jamaica's meeting with the National Workers Union to negotiate new wage for the airline's employees was postponed, Radio Jamaica reports. Radio Jamaica relates that the meeting was initially set for Feb. 8, 2007. According to Radio Jamaica, the union had demanded that Air Jamaica present a wage offer and a detailed business plan. Union vice president Granville Valentine told Radio Jamaica that the wage package at Air Jamaica has not been changed for over a year. The delay in the wage talks only increased the "air of uncertainty" and discontent among Air Jamaica's workers, Radio Jamaica states, citing Kavan Gayle, the president general of another union, Bustamante Industrial Trade Union. Headquartered in Kingston, Jamaica, Air Jamaica -- http://www.airjamaica.com/ -- was founded in 1969. It flies passengers and cargo to almost 30 destinations in the Caribbean, Europe, and North America. Air Jamaica offers vacation packages through Air Jamaica Vacations. The company closed its intra- island services unit, Air Jamaica Express, in October 2005. The Jamaican government assumed full ownership of the airline after an investor group turned over its 75% stake in late 2004. The government had owned 25% of the company after it went private in 1994. The Jamaican government does not plan to own Air Jamaica permanently. * * * As reported in the Troubled Company Reporter-Latin America on June 12, 2007, Moody's Investors Service assigned a rating of B1 to Air Jamaica Limited's guaranteed senior unsecured notes. On July 21, 2006, Standard & Poor's Rating Services assigned a "B" long-term foreign issuer credit rating on Air Jamaica Ltd., which is equal to the long-term foreign currency sovereign credit rating on Jamaica, based on the government's unconditional guarantee of both principal and interest payments. |
|
|
||
|
Today's Top Stories have been selected from the Troubled Company Reporter - Latin America. To receive the Full TCR-LA please CLICK HERE.
