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[Barbados] REDjet officially grounded

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[Barbados] REDjet officially grounded

Unread post by bimjim » Mon Jun 11, 2012

http://news.barbadostoday.bb/barticlene ... 2011-08-31

[Barbados] REDjet officially grounded
11 June, 2012

REDjet has official shut shop in Barbados.

Just hours after Barbados TODAY reported that the airline was about to pull out, but was looking to lift off again from a base in Jamaica in the future, the airline issues a statement saying:

“Airone Ventures Limited doing business as REDjet hereby announces the suspension of all operations in Barbados. REDjet profoundly regrets this decision and its impact on its suppliers, staff and passengers.

“REDjet believed that it had secured the full aero-political support of the Government and authorities in Barbados and had it gained access to all markets as a designated national carrier this turn of events could have been avoided. However, regrettably this has not been the experience of the airline over the past two years.

“With no consensus at a political or technical level to deliver on these commitments which are critical to the development of any airline there can be no future for REDjet in Barbados. Therefore, despite the best efforts of the airline and its committed staff, the airline has been forced to make the regrettable decision to suspend all its operations.”

The statement also noted that the company has filed with the Supervisor of Insolvency a Notice of Intention to Make a Proposal to the company’s creditors under the Bankruptcy & Insolvency Act.

It added: “Immediately upon filing all proceedings against the company are stayed. No creditor may therefore exercise any remedy against the company, while the stay is in place, in respect of any debt owing as of 5th June 2012. Debts accruing for services rendered after filing will be dealt with in the ordinary way since the stay of proceedings does not apply to such debts. The stay will be in place for 30 days initially but the court will entertain reasonable applications for extension of the stay to permit a proposal to creditors to be completed.

“The Trustee will at the appropriate time invite creditors of amounts of $250 and more, including passengers who have purchased tickets with the airline but who have yet to apply for a refund, to prove their debts as required by the act and also call a meeting of creditors for the purpose of considering and approving the company’s proposal.”

In the meanwhile the company has appointed Dr. Grenville Phillips as trustee.

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