JIS News

Minister of Finance and the Public Service, Hon. Audley Shaw, has appointed a new 5-member board at Air Jamaica, consequent on the expiration of the term of the previous board.
The new board will oversee the transitional arrangements and legacy issues surrounding the divestment of the airline, which is expected to be completed by the end of the week.
The full membership of the new Board is: Hon. Dennis Lalor, Chairman, ICWI Group; Christopher Zacca, Special Adviser to the Prime Minister; Dr. Wayne Henry, Special Adviser to the Minister of Finance and the Public Service; Sancia Templer, President, Jamaica Trade and Invest; and Christopher Berry, Chairman, Mayberry Investments.
In addition, an Air Jamaica transition management committee has been set up to help guide the process, which is to be led by President and CEO Bruce R Nobles.
A deal, in which Air Jamaica will be absorbed into Trinidad-based Caribbean Airlines, is expected to be consummated this weekend. Caribbean Airlines will grant Air Jamaica equity, but the Jamaican Government will have to find $27 billion in this year’s capital expenditure budget to meet debt and other costs, including the redundancy of hundreds of employees.
Mr. Shaw expressed appreciation to outgoing Chairman of the board, Shirley Williams, for guiding the airline through “very challenging times,” and also thanked other members of the outgoing board for volunteering their time and expertise in recent times.
The appointment of the new board became effective on Tuesday, January 5.

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