I am free as a bird - 'Butch'
published: Sunday | December 26, 2004

- RUDOLPH BROWN/Chief Photographer
Aubyn Hill (right), newly appointed chief executive officer of Air Jamaica, talks with Chris Zacca, outgoing CEO of the airline, at Thursday's press conference at the Ministry of Finance and Planning to announce changes to the ownership and management structure of Air Jamaica. At centre is outgoing chairman, Gordon 'Butch' Stewart. Dr. Vin Lawrence, head of the Urban Development Corporation, has been appointed the new chairman of the airline.

THE MANAGEMENT of Air Jamaica over the past 10 years has placed tremendous strain on his ownership group, said the airline's outgoing chairman, Gordon 'Butch' Stewart.

However, the Air Jamaica Acquisition Group (AJAG) signed over its 75 per cent shareholding back to the Government on Thursday, bringing the airline back under full Government control. Mr. Stewart, the leading shareholder in AJAG, said the massive debts of the airline had become a burden which his group could not afford.

Now he is saying, "I feel as free as a bird."

He told a press conference at the Ministry of Finance and Planning, where the agreement was signed to transfer the AJAG shares back to the government, that the airline was a valuable institution that needed the support not just of the AJAG group, but of the entire nation.

It was revealed in the Senate in November, that Air Jamaica had lost more than $34 billion since its privatisation in 1994 and was also carrying a debt burden of almost $42 billion.