Air Ja Divestment
Published:Monday | May 5, 2008 | 8:46 AM
The United States government will today be donating J$59 million to assist the government with the Air Jamaica divestment process.
Acting Director, of Communication at the Ministry of Finance and Planning Cheryl Smith said the grant will be provided by the United States Trade and Development Agency (USTDA).
A signing ceremony involving the Minister Without Portfolio in the Finance Ministry, Senator Don Wheby and US Ambassador to Jamaica, Brenda LaGrange Johnson will take place at the Ministry’s offices at 11:am.
The national carrier is to be divested by the end of this fiscal year in March 2009.
The national airline has reportedly been racking up losses of US$125 million per year.