Saturday, December 25, 2004
In Jamaica, The Government had gotten back 100 per cent of Air Jamaica. Successful businessman, Gordon 'Butch' Stewart of Sandals fame has signed over its 75 per cent ownership share back to the government. The airline has resumed state ownership after a 10-year hiatus.
But Stewart and his company have agreed to pump US$20 million into the airline, with the Government putting up an additional US$25 million in credit, so as to give the transition period a much-needed push-start.