GA 2000 boss in New York for financial, other meetings
Guyana Airways (GA) 2000 Chairman, Yesu Persaud, is in the United States meeting with financial institutions and travel agents. Persaud's office said that he would be back in Guyana by Monday. Following a query, the airline's public relations consultant Kit Nascimento told Stabroek News that the Hamilton Bank was among the financial houses with which Persaud would meet and that the meetings were to discuss the business of the airline. At an editors' briefing last week, Persaud admitted that the airline was encountering some difficulties and would be needing short-term financing, even though it had done exceptionally well since it started flying in mid-July. He said the financing needs would be sought from institutional sources. The airline's board met President Bharrat Jagdeo recently to discuss its operations but the President refused to disclose whether the company's financial position had been raised. He said that the information he had been given was confidential. Last week, the airline's operations director and shareholder, Larry Singh resigned and later this month, its chief executive officer, Anthony Mekdeci, will be returning to his family's company though he will be retained as a consultant to the airline. Both resignations were announced at the editors' briefing. At the briefing too, Persaud said that after about less than six months in operation, GA 2000 had captured almost 60% of the lucrative North American routes to New York and Toronto. However, lack of demand has forced the discontinuation of its non-stop flights to Miami and Persaud said that the market was not there yet to make possible a second aircraft as had been planned.
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