Government will not advance any support to the debt-ridden national airline, Ghana Airways if it does not get a new management. The appointment of a new management is important to ensure that any injection of capital would be properly and efficiently used for maximum returns.
An Adviser to the Minister of Finance, Dr Anthony Osei-Akoto who made this known to the Ghana News Agency said the $120 million lifeline needed by the company to turn its fortunes around is huge adding that government might not be able to provide that much. “There is, however, a grand plan to bring the airline back into profitable operations,” he noted. Ghana Airways is on the brink of bankruptcy, with a debt of $150 million.
President John Agyekum Kufuor on Thursday said the government was reviewing the financial situation at Ghana Airways and would soon take a decision to protect and enhance the nation’s interest. “Years of reckless mismanagement has left Ghana Airways in a most precarious state,” he said.
Source: GhanaWeb
