Dawgen Global: Grounded, Jamaica Air Shuttle seeks partners - Business

Wednesday, February 20, 2013

Grounded, Jamaica Air Shuttle seeks partners - Business - JamaicaObserver.com

Grounded, Jamaica Air Shuttle seeks partners - Business - JamaicaObserver.com:

OPERATORS of Jamaica Air Shuttle are putting together a consortium of investors to purchase two 12-seater Beech 99 aircraft they were forced to ground on Monday after the planes' owner pulled out of the business.

Jamaica Air Shuttle, which offers domestic and regional flights, will temporary suspend its operation until that transaction is completed, said the carrier's marketing manager, Deryck Dwyer.

Jamaica Air Shuttle operated two 12-seater Beech 99 aircraft — designed as 14 seaters but configured as 12 seaters to create more space.

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"The overseas investor, who has been ongoing with us from the beginning, has become a bit disheartened with what has been happening in Jamaica and has looked at his investment as becoming too risky; and has decided to pull out of the deal," Dwyer told the Business Observer.

"He informed our managing director (Christopher Reid) two Fridays ago that he wished to take back his aircraft because he would like to sell them," he disclosed.

Dwyer noted that Reid owns the right of first refusal to acquire the planes and said that the company expects to resume operations in about two weeks.

Jamaica Air Shuttle entered the air travel market on December 7, 2009, running three scheduled flights per day between the Tinson Pen Aerodrome in Kingston and Sangster International Airport in Montego Bay on weekdays, and two schedule flights between the two locations on weekends. It also offered flights to Cuba and Haiti.