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April 11, 2008 |
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AIR JAMAICA: Will Launch Wage Talks with National Workers Union Air Jamaica will try to start wage negotiations with the National Workers Union, which represents its ground staff, Radio Jamaica reports. As reported in the Troubled Company Reporter-Latin America on March 20, 2008, Air Jamaica has an ongoing wage dispute with its ground staff and flight attendants. The workers were dissatisfied over the management's delay in starting talks on new wage contracts for the flight attendants and the ground staff. The last accord for the ground staff expired in December 2006, while the agreement for flight attendants expired in May 2007. The workers "remain extremely restive" over Air Jamaica's taking too long in starting the negotiations, Radio Jamaica relates, citing the National Workers' Vice President Granville Valentine. Mr. Valentine commented to Radio Jamaica, "But it has reached a proportion where we cannot guarantee normalcy if the government and the management of Air Jamaica do not step up to the plate to see how best they can improve on the workers' compensation and standard of living that has deteriorated to such a stage where these workers cannot afford the basic necessities of life." Wage claims for flight attendants represented by the Bustamante Industrial Trade Union was referred to the Finance Ministry, which is supervising Air Jamaica's sale, Radio Jamaica states. 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. |
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