January 13, 2011

Air Pacific Under Pressure

In March 2010, Intelligentsiya made noises at the problems that would befall our national airline Air Pacific once other low-cost carriers started competing with us.

In December 2010, we leaked the news that job losses numbering 100 (or more) were imminent in Air Pacific.

It is all coming to pass very rapidly. 

Wade through the fluff being nonsensically spouted by the illegal and treasonous Aiyaz Sayed Khaiyum. To blame fuel hedging carried out in 2009 as the main reason for the FJD$90mill loss last year is complete and utter crap because Air Pac have been in this business for years weathering the global fuel crisis of 2008 relatively well, and to blame fuel hedging which is standard aviation industry practice is dishonest. 

To allude that fuel hedging is rocket-science validating more expatriate (read expensive) consultants, is a clear signal that Khaiyum had problems with the previous management team and that the full extent of his empire building within Air Pac will become visible soon.
Air Pac jobs go
Thursday, January 13, 2011

NATIONAL carrier Air Pacific is undergoing a major downsizing and cost restructuring exercise.

The restructure was deemed necessary to sustain the longevity and sustainability of the airline and to ensure it can effectively compete on a global scale.

Along with the planned manpower rationalisation is a complete restructure of leasing arrangements and management operations and practices.

This was revealed by Attorney-General and Minister for Civil Aviation Aiyaz Sayed-Khaiyum yesterday.

Addressing close to 300 staff, Mr Sayed-Khaiyum said the aviation industry around the world was undergoing a transformation which included downsizing and restructuring in many airlines.

He said it was a product of the financial climate from which Air Pacific was not immune.

Rationalisation needs to take place, he said.

Air Pacific is one of the largest foreign income earners in the country and, as such, plays a pivotal role in the economy.

It is crucial that Air Pacific survives not by the skin of its teeth but survives well.

The Attorney-General said last years loss of $90million was mainly attributed to fuel hedging, a disaster that could have been avoided if expatriate advice and assistance was sought.

We lost $90million because someone made an ill-advised decision, he said.

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