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Home Ingezonden Ingezonden Never a dull moment in airline business! (part 2 of 2)
Never a dull moment in airline business! (part 2 of 2) PDF Afdrukken E-mail
dinsdag, 19 februari 2013 07:28

...‘New’ routes that were already well served by other airlines were opened for sale below cost prizes. Copying competitor’s routes that were build up in years guaranteed quick money to finance day to day operations for a little while because tickets for these future flights are sold without having to operate them. But leading to enormous debts when these routes actually need to be flown when the time is there: The pyramid model that made a few rich (and incarcerated), and destroyed the ignorant believers of the scheme.

The time to operate these money gathering flights has arrived, I presume, based on the information that is available. Not only on the online Curaçao Chronicle, filled with DAE banners and subjective information compared to other media and managed by DAE’s PR manager Aldrich Hermelijn (who, by the way, has an interesting background when Googled), but also in some other media. Ramiz has now taken over DAE. The company has been brought to such misery that nobody wants it, except the person who intentionally brought it there to cash in on his intentionally managed and self delivered bargain. He has come to an agreement with the major creditors promising that they will get their money in the future. The alternative for these creditors is to pull out with the certainty they will never receive a cent. The smaller creditors lost their money anyway, that is not Ramiz’ problem. He has leverage over the government to sell it to him for nothing, because he made sure to hire so many employees over the last few months that no government official will pull the plug, because of the job losses that will result from it. Blackmail in disguise.

The timing of taking over could easily be forecasted. The technical problems were eminent and clearly visible. Insufficient incoming funds due to ridiculously low fares lead to maintenance problems and aircrafts that are grounded, unbearable debts that destroy the going concern of the company. Ramiz has a track record in the airline industry. He destroyed Aeropostal in Venezuela. He couldn’t pay his employees. The ones that were lucky enough to work in Venezuela got paid by their government, the ones working abroad were unlucky.

Ramiz made big bucks with his management fee and capitalizing on leasing his own aircrafts to himself. And it seems he found a place where he is able to outsmart the local authorities and creditors by financially hijacking them. He doesn’t mention how he is going to pay back. On the contrary, he is planning to spend his revenue buying new Airbus aircrafts. The important creditors will end up like the current small ones. Not Ramiz’ problem. He will find another place to pull his trick once again. For me it is easy to see I guess, I am at a distance.

FRANK LEVITT

USA