SOME EXCITING NEWS ON WINAIR June 27th 2013 Philipsburg, St.Maarten WINAIR POSTS A MODEST PROFIT IN 2012 WINAIR has posted a modest operational profit in 2012. This is quite a turn-around from the period before October 2010 when the airline booked accumulated operational losses of USD 16.8 million and accumulated a sizable debt resulting in a USD 9.2 million negative equity position. Since the company was taken over in October of 2010 from the now defunct Netherlands Antilles by Country Sint Maarten (92.05%) and the Netherlands o.b.o. Saba and Statia (7.95%), the present management board worked diligently in streamlining the operations and implementing cost-cutting measures, while taking advantage of new opportunities. “The airline is in a much better position today than where it was when we came on board” says Greaux Jr., Chairman of the Supervisory Board and son of the principal founder of the local National Airline. He hurries to add, that while operationally the airline has made a major turn-around, the debt burden and negative equity position continues to weigh heavily on the company. The Chairman has concluded the meeting by congratulating the Executive Management team, his fellow Supervisory Board members, the shareholders, and especially the employees for having done a tremendous job in turning the company around. Observations were made about the company as a whole showing renewed energy and pride by all employees that has created such a positive image in our regional aviation world that people are not only wanting to work for the company, but many are also wanting to do business with it again. Some highlights in 2012 were: National Flag Carrier status obtained in March signed by the Minister of Transportation. Reinstated Passenger Self Handling in October with a hired staff of 27 on a budget neutral basis. Reinstated Ground Handling Services to 3rd parties with additional or upgraded equipment plus additional 6 staff hired. Inserted a stop in St.Kitts on the St.Maarten-Nevis daily flight that has had positive effect on load factors. Forged closer ties and better communications with all stakeholders. Timely and effective aircraft leasing and maintenance planning. Met the requirements to renew the Air Operator’s Certificate (AOC).
Posted on: Tue, 02 Jul 2013 04:06:53 +0000
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