REDjet needs $8m
REDJET IS?AT?THE crossroads in its operations. It needs an $8 million injection now to allow it to keep fulfilling its investors’ mandate to provide affordable air transport for Caribbean people – otherwise, the future of the airline could be in jeopardy.
This revelation came yesterday from the Barbadian-based low cost carrier’s largest local investor, Ralph “Bizzy” Williams.
The businessman, who this week accused Government of sabotaging the airline’s progress by excessive delays, told the SATURDAY SUN that $8 million which was invested for operating expenses in the initial months of the business had to be used otherwise. Now that the airline, which employs close to 100 people, is finally getting routes to fly, these funds have been exhausted.
“It [the money] had to be used in all of the delays that took place while we were waiting for permission to fly,” said Williams. (SP)
Full story in today’s SATURDAY SUN.