Sep 2006 Financial News

BWIA, unions meet Friday

Sep 05, 2006

BWIA management and labour representatives will meet on Friday to discuss the airline’s future.

The meeting was due to take place last week but was postponed by the airline’s management. President of the Aviation Workers’ Union Curtis John yesterday stood by his assertion that the meeting was being called to announce the formation of a new company to take BWIA’s place.

BWIA has refused to comment on the airline’s future before Friday’s meeting.

Airline management and the unions are yet to tie up collective bargaining agreements for 2001 to present. Management has said that the agreements are essential for the airline to survive, but union leaders insist that they cannot accept the terms.

“Even if they bring that paper in front of me now, I wouldn’t sign it,” John said.

In an article in the Sunday Guardian, John said that the new company had already been registered, but Government officials have said that Cabinet is yet to make a decision on the airline.

Government, though, announced earlier this year that it would be injecting US$250 million to recapitalise the airline.

Trading in BWIA’s shares has been suspended since November last year. The suspension came on the request of the airline’s management who said it would be necessary while a new management plan was being formulated.


Source:
The Trinidad Guardian
Tuesday 5th September, 2006

http://www.guardian.co.tt/business1.html