500 Dynamic Airlines’ passengers refunded

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500 Dynamic Airlines’ passengers refunded

Unread post by bimjim » Tue May 22, 2018

https://guyanatimesgy.com/500-dynamic-a ... -refunded/

500 Dynamic Airlines’ passengers refunded
May 22, 2018

Over 500 passengers who had booked to travel with Dynamic International Airways before it pulled out of the Guyana market have been fully refunded. This is according to Principal Assistant Secretary (General) Jason Duport, in a release to the media on Monday.

He noted that while there had been some hiccups, the overall process was laudable and the refunding process is progressing smoothly.

“We were particularly pleased with the conduct of members of the public,” Duport said. “Persons were respectful and followed procedure, and we’d like to thank the members of the public for their patience.”

However, persons who are yet to uplift their refunds are urged to do so by Friday. Passengers are reminded that refunds will be issued from Monday through Thursday from 09:00h to 15:00h, and Friday from 09:00h to 14:00h at the Ministry of Public Infrastructure’s Accounts Department, Fort Street, Kingston. Passengers must produce a valid identification and proof of ticket purchase.

Since the airline pulled plugs on the Guyana Market in October of 2017, the Public Infrastructure Ministry had initiated the process to access a bond for the sum of US$200,000 which was lodged by Dynamic International Airways.

Local handling agent Roraima Airways Inc. had submitted to the Public Infrastructure Ministry a list of the names of 609 passengers who are eligible for refunds.

Dynamic Airways suspended its operations on October 3, 2017 to facilitate reorganisation of its Chapter 11 case under which the airline filed for bankruptcy.

In an issued statement, the airline had said that it remained committed to honouring all outstanding financial obligations, whether to passengers, airport authorities, or the Guyana Civil Aviation Authority.

The voluntary Chapter 11 petition was filed by Dynamic Airways with the United States Bankruptcy Court in the Middle District of North Carolina.

This chapter of the Bankruptcy Code generally provides for reorganisation. Moreover, Chapter 11 allows a debtor to propose a plan of reorganisation to keep its business alive and pay creditors over time.

This includes the lawsuits from Hajj flights that Dynamic operated in 2014 for Air India, and an arbitration award against Dynamic Int’l finding that the airline was in breach of contract by failing to pay commissions to BKP Enterprises in connection with the Hajj flights.

Just a month after filing for bankruptcy, one of the airline’s creditors had moved to the courts to force the airline to liquidate its assists; Dynamic had owed that creditor some US$1.19 million.

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