$7 Million BVI Airways Debacle Still Unresolved

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bimjim
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$7 Million BVI Airways Debacle Still Unresolved

Unread post by bimjim » Thu Mar 29, 2018

https://www.linkedin.com/pulse/7-millio ... m0cg%3D%3D

$7 Million BVI Airways Debacle Still Unresolved
  • ...as Premier has not moved forward on trying to fix
    ...his massive 'screw-up', but why? Corruption??
Tomas Chlumecky
February 24, 2018

Wednesday 14 February marked two months since it was announced that Government intended to take legal actions against BVI Airways. To date however, no firm word on how government intends to proceed on the matter has been made clear.

Look, I and a good associate tried to fix BVI Airways from August to October of last year, but time ran out as flight and ground crews left for other jobs. The business model was overhauled and expanded to show a fantastic and realistic ROI after 12 months of operation, as the routes have excellent potential and high yields for the non-stop service to BVI, Anguilla, and another island.

We could have rescued the BVI Airways fiasco with at least $1.5 million, and today be flying 4 times per week between Tortola and Miami and 3 times per week between Anguilla and Miami.

Yet, BVI Government was not forthcoming with any information or help, had no agreement, no business plan, no ownership, as if they wanted to sweep the $US 7 million under the rug and forget about it, smells no ?

How does anyone lose $7 million before starting an operation? When we could have done it for $1.5 million? Well, they bought the aircraft instead of leasing them for $50,000 per month, which is just plain stupidity IF you really want to get the airline off the ground, IF you want to take your money and run, buy the aircraft, go bust and sell the aircraft, and fade away.

Time to start investigating the Premier and his actions, because no one can be that dumb ! to give someone $7 million and have zip to show for it, or was it a well orchestrated scam on the good people of the British Virgin Islands by the Premier ? or the owners and executives of BVI Airways ?

The whole BVI Airways fiasco stinks, how can you give a new airline that kind of money and not get a share in the airline, a seat on the Board, and then they just back off, not fly a single flight as promised between Tortola and Miami with one of the 2 x BAe ARJ100's they bought and leased to themselves through another company.

BVI is out $7 million, the owners of BVI Airways own 2 airliners worth +/- $5 million, and no one blinks an eye ?

During a press conference on 8 February Premier and Minister for Finance, Dr. the Hon. D. Orlando Smith when prompted for an update on the matter announced that much has not changed. “The matter is still with the Attorney General,” the Premier announced.

Last year in response to questions from the Leader of the Opposition Hon. Andrew in the House of Assembly on 14 December Premier Smith did not give details of the plan to address the fact that BVI Airways never took to the skies. However, he did announce that government informed the airline of the breach of the contract on 1 October, by then employees were not paid and all were heading for new jobs, no pilots no mechanics, all gone, way too late, again it stinks of corruption !

It was noted that the order was not issued by the Attorney General; and Leader of the Opposition Hon. Fahie expressed concern that if the actions against the Airline were not taken by the Attorney General then they are not serious.

However, Premier Smith explained that the Order was the preliminary step and he announced that the steps to follow will be dealt with by the Attorney General. Hon. Smith said: “Whatever next steps happen [they]will take place on the advice of the Attorney General.”

While responding to the company Premier Smith announced that government intends to fight to ensure that in one form or the other there is satisfaction for the $7millio that was invested in BVI Airways.

In a radio program on 13 February Hon. Fahie took at a swipe at the fact that Government has made no firm attempt to recoup its BVI Airways investment.

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