PM says Air Jamaica deal could be reached soon

Prime Minister Bruce Golding has disclosed that a deal could be reached soon with Caribbean Airlines for the sale of Air Jamaica.



The Trinidad based regional airline had been among two shortlisted bidders for the cash strapped Air Jamaica.



However, Mr. Golding said those discussions ended after the government began negotiations with a preferred bidder under an exclusive agreement.



The discussions later resumed with Caribbean Airlines after the government failed to arrive at an acceptable agreement with the preferred bidder, and the regional airline altered its proposal.



Yesterday Mr. Golding traveled to Trinidad and Tobago where he held further discussions with Caribbean Airlines and the government of the twin island state.



He has described the talks as satisfactory and in the interest of Jamaicans.



Air Jamaica has accumulated losses of approximately US$1.2 billion.



It is understood that the divestment of the airline is among the conditions being demanded by the IMF before it can sign off on a loan with the government.