AIR JAMAICA CONTINUES TO SUFFER LOSSES
Nov 4, 2001, 4:53 pm
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AIR JAMAICA CONTINUES TO SUFFER LOSSES
http://www.radiojamaica.com/rjrnews/...s/00000032.htm
AIR JAMAICA CONTINUES TO SUFFER LOSSES
Date: 02 Nov 2001
Time: 05:57 PM
Comments
The National Airline- Air Jamaica continues to operate at a loss following the September terrorist attacks in the United States.
However speaking at a Press Conference Friday morning, Chairman Gordon Butch Stewart says the airline will be introducing measures to combat operational costs. Although Air Jamaica has taken steps to overcome fallout in the industry, it continues to lose money because of the downturn in travel.
Measures including staff agreeing to give back a portion of their pay, will save the airline over 20 million Jamaican dollars over a three month period, however that will not get the airline out of trouble.
Mr Stewart says the airline has seen a 15 to 16 percent reduction in passenger travel since the attacks and revenue for the airline is down by 19 percent.
Projections for the airline have also fallen by 18 percent or 35 million US dollars below budget, for the second half of this year.
Mr Stewart also told journalists that the airline has reduced travel on several routes following the fallout.
This includes a reduction in the number of weekly flights.
But despite the economic fall out at Air Jamaica, Mr Stewart says he is not looking to the government for any bail out at this time.
Mr Stewart was also quick to highlight that Jamaica is doing far better in receiving visitors than its Caribbean counterparts, with 60 percent increase visitors for the last three months.
This Mr Stewart is attributing to the quality of service on Air Jamaica.
AIR JAMAICA CONTINUES TO SUFFER LOSSES
Date: 02 Nov 2001
Time: 05:57 PM
Comments
The National Airline- Air Jamaica continues to operate at a loss following the September terrorist attacks in the United States.
However speaking at a Press Conference Friday morning, Chairman Gordon Butch Stewart says the airline will be introducing measures to combat operational costs. Although Air Jamaica has taken steps to overcome fallout in the industry, it continues to lose money because of the downturn in travel.
Measures including staff agreeing to give back a portion of their pay, will save the airline over 20 million Jamaican dollars over a three month period, however that will not get the airline out of trouble.
Mr Stewart says the airline has seen a 15 to 16 percent reduction in passenger travel since the attacks and revenue for the airline is down by 19 percent.
Projections for the airline have also fallen by 18 percent or 35 million US dollars below budget, for the second half of this year.
Mr Stewart also told journalists that the airline has reduced travel on several routes following the fallout.
This includes a reduction in the number of weekly flights.
But despite the economic fall out at Air Jamaica, Mr Stewart says he is not looking to the government for any bail out at this time.
Mr Stewart was also quick to highlight that Jamaica is doing far better in receiving visitors than its Caribbean counterparts, with 60 percent increase visitors for the last three months.
This Mr Stewart is attributing to the quality of service on Air Jamaica.
