Manning Gets Plane; Annual Cost of $18 million

Submitted by Y on March 11, 2008 - 10:56am.

The Ministry of Finance has approved $400 million to be sent to Carribean Airlines for the purchase of an executive jet.

Quote:

But while the Minister was willing to confirm this yesterday, he would
not say where the $400 million came from, noting that Government has
several funds, including the Consolidated Fund, from which to meet
various expenses.

It's comming from taxpayers pockets!

Quote:

The Minister, further, did not want to go into the details of the
proposed acquisition, arguing that while CA is a fully State-owned
company, it is a “private entity” that must be able to compete
effectively on the market and as such not have its plans ventilated in
the public domain.

If CA is a "private entity" and has to compete in the market, why then must CA come to the government to receive funds. Why can't CA go to the private market and borrow the money or issue more shares?

Quote:

Aviatrade also estimates that the total annual cost of running the Global XRS will be roughly $18million.

WTF?

http://www.newsday.co.tt/news/0,74765.html

Trackback URL for this post:

http://www.thetrinioutlaw.com/trackback/36

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

Who's online

There are currently 0 users and 1 guest online.

About us

Welcome to the blog of the original Trini Outlaw. Here you'll find a vast collection of letters to the local newspapers editors, as well as daily rants on the dotishness in Trinidad & Tobago.

The purpose and mission of the Trini Outlaw blog is to offer an open forum where Trinidadians can come to expose, express and read about the inherent and deep seated corruption and stupidity of the day as they unfold under the existing government of the nation.