Guyana Airways 2000 has affirmed that it does not now have sufficient financial resources to respond to claims from passengers seeking to recover travel costs incurred because the airline has suspended its operations.
Stabroek News
June 30, 2001
The airline has approached the Guyana government, as a major shareholder (49%), with a proposal for the administration to provide relief to those passengers in the circumstances of the company's financial position, according to a GA2000 press release yesterday. GA2000 was forced to suspend its operations on May 15 after it failed to conclude an arrangement with a strategic investor which would have allowed it to complete an agreement for continuing to lease the B757 aircraft it had contracted from Ansett Worldwide Aviation of Australia.
Meanwhile, the airline is still pursuing the restructuring of its operations and remains in discussion with several international groups about its future as the National Airline of Guyana, the release stated.
The company noted that a restructuring process of that nature "must of necessity take time and is dependent upon credible evidence of political stability in the country."
However, the release said, the company is carrying on the operations of its subsidiary Timehri Handling Company but will retain only a skeleton head office staff while negotiations for restructuring its airline operations continue.
The company, in accordance with the provisions of the Termination of Employment and Severance Pay Act, has given formal notice of the termination of employment of its main complement of staff with the assurance that if the process of restructuring proves to be successful, re-employment would be possible, the release added.