BWIA acts on Government's demands BY JUHEL BROWNE Guardian 05.08.03 BWIA's Board of directors has agreed to conclude its revision of the executive compensation packages by July 31, and commence an early review of its management team in efforts to secure a $116.8 million loan from the State. This was just of one of several conditions the airline has agreed to fulfil in its meeting with a Cabinet-appointed inter-Ministerial committee, chaired by Public Administration Minister, Dr Lenny Saith, on Tuesday. The meeting and its results were announced in a press release issued by the advertising firm Collier, Morrison, Belgrave Ltd, on behalf of the Government and BWIA. However, no announcement was made as to when BWIA will be receiving any payments from the loan. Another key decision coming out of that meeting could also see new investors in the airline. The press release noted: "The BWIA Board will, before July 31, advise Government of the decision of the airline's private sector shareholders regarding participation in the interim financing and of the interest of any new shareholders whom they may seek." Government has also agreed to finalise the required civil aviation legislation now before Parliament, meant to regain Category One Status from the United States Federal Aviation Administration by July 1, 2003. BWIA has been unable to expand its flight routes to the US since the FAA downgraded this country to Category Two about two years ago. The joint release said Saith was joined at Tuesday's meeting by his committee members ? Attorney General Glenda Morean, Trade and Industry Minister Kenneth Valley, Health Minister Colm Imbert, Transport Minister Franklyn Khan and junior Finance Minister Conrad Enill. They met with a BWIA committee, which included the airline's deputy chairman, Anthony Jacelon, along with Board members Krishna Narinesingh, Gordon Deane and Capt John O'Brien. According to the release, neither BWIA chairman Lawrence Duprey nor chief executive officer Conrad Aleong were at the meeting. The following is a summary of the other decisions taken at the meeting: ? BWIA will, before the end of July, provide Government with its revision of executive compensation contracts and salaries and allowances of all other staff, to take effect from April 1, 2003 and the status to that date. ? The BWIA Board will proceed with an early review of the airline's management team so as to effect any transition in an orderly manner ? By Friday (tomorrow), BWIA will submit to Government, via the Civil Aviation Authority, its recommendations on the regulatory changes necessary in order to meet the requirement for increased productivity of flight staff through the revision of work and rest regulations. ? BWIA will, before the end of next week, present to Government its revised policy on free and rebated travel by the airline's staff and retirees. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@xxxxxxxxx Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Site of the Week: http://www.cso.gov.tt TnT Webdirectory: http://search.co.tt *********************************************************