The level of support for the IPO idea that I have seen via emails shows that it has legs but Don Wehby gave a definitive answer as to whether it has been considered and what the results are.
He agrees with many of the points made but the problem is that the deficit of Air Jamaica is US$1.1 billion and the Jamaican Capital market could not absorb such an issue. He also pointed out that this is about 2 years of the average fiscal deficit.
However, he explained that they could look at the listing and IPO option AFTER identifying a partner.
That certainly answers the question and closes the debate for me. I am also heartened to know that our officials are actually listening and are willing to take the time to respond.
Thursday, January 10, 2008
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