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MEMORANDUM
TO: All Employees
FROM: Bruce R. Nobles, President and CEO
Date: March 3, 2010
My fellow employees,
The process of divesting the Airline, which has been underway for some time now, has continued assiduously since my last communication with you. As we are all aware, a letter of intent was recently signed with Caribbean Airlines. They have been engaged in a due diligence exercise over the last few weeks, with steady progress made in this regard.
This divestment exercise has now evolved to a position where certain decisions have been taken and associated timelines determined and I want to share some of that information with you.
There are a couple of points to remember about this divestment effort;
1.First, the Government of Jamaica has made it clear that it is not in a position to continue providing financial support for Air Jamaica going forward.
2.If the transaction with Caribbean Airlines cannot be satisfactorily completed in short order, the options for the Government and for Air Jamaica become very limited.
As a result, we are working diligently to develop a structure that will ensure that customers can and will continue to book and fly to and from Jamaica with confidence. At this time we are therefore developing a strategy to ensure a “seamless” transition for our customers.
We are working with Caribbean toward a transaction date concurrent with our major schedule change on April 12, 2010. That date is a “target” and may change. The plan is that all employee positions at Air Jamaica Holdings, Ltd. will be made redundant effective with the transaction date.
The current transition proposal is to continue to operate Air Jamaica utilizing our existing fleet under contract to Caribbean Airlines for perhaps as long as one year. Caribbean will be financially responsible for the transition operation after the transaction date.
In order to operate the” transition” Jamaican operation, a new company will be formed to hire the personnel required. Those employees will be hired under fixed term contracts. The number of jobs required and the terms and conditions of employment are still being finalized. However, members of the transition team from Caribbean are currently at Air Jamaica completing due diligence work which includes a reviewing of information about employees, our company policies, as well as conducting interviews and psychometric testing. Additional information regarding interviews and jobs will be made available shortly.
As we have indicated to you previously, our objectives are first to ensure a seamless transition for our customers, next to minimize the impact on our Air Jamaica family and third to fairly deal with all the outside companies who do and have done business with Air Jamaica over the years.
I know that I can count on your cooperation and support during this critical time in the life of Air Jamaica and I look forward to discussing this in more detail with you as plans become more definitive.
Sincerely,
Bruce R. Nobles
President and CEO
TO: All Employees
FROM: Bruce R. Nobles, President and CEO
Date: March 3, 2010
My fellow employees,
The process of divesting the Airline, which has been underway for some time now, has continued assiduously since my last communication with you. As we are all aware, a letter of intent was recently signed with Caribbean Airlines. They have been engaged in a due diligence exercise over the last few weeks, with steady progress made in this regard.
This divestment exercise has now evolved to a position where certain decisions have been taken and associated timelines determined and I want to share some of that information with you.
There are a couple of points to remember about this divestment effort;
1.First, the Government of Jamaica has made it clear that it is not in a position to continue providing financial support for Air Jamaica going forward.
2.If the transaction with Caribbean Airlines cannot be satisfactorily completed in short order, the options for the Government and for Air Jamaica become very limited.
As a result, we are working diligently to develop a structure that will ensure that customers can and will continue to book and fly to and from Jamaica with confidence. At this time we are therefore developing a strategy to ensure a “seamless” transition for our customers.
We are working with Caribbean toward a transaction date concurrent with our major schedule change on April 12, 2010. That date is a “target” and may change. The plan is that all employee positions at Air Jamaica Holdings, Ltd. will be made redundant effective with the transaction date.
The current transition proposal is to continue to operate Air Jamaica utilizing our existing fleet under contract to Caribbean Airlines for perhaps as long as one year. Caribbean will be financially responsible for the transition operation after the transaction date.
In order to operate the” transition” Jamaican operation, a new company will be formed to hire the personnel required. Those employees will be hired under fixed term contracts. The number of jobs required and the terms and conditions of employment are still being finalized. However, members of the transition team from Caribbean are currently at Air Jamaica completing due diligence work which includes a reviewing of information about employees, our company policies, as well as conducting interviews and psychometric testing. Additional information regarding interviews and jobs will be made available shortly.
As we have indicated to you previously, our objectives are first to ensure a seamless transition for our customers, next to minimize the impact on our Air Jamaica family and third to fairly deal with all the outside companies who do and have done business with Air Jamaica over the years.
I know that I can count on your cooperation and support during this critical time in the life of Air Jamaica and I look forward to discussing this in more detail with you as plans become more definitive.
Sincerely,
Bruce R. Nobles
President and CEO
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