The Times reports that Ghana Airways, the national airline, which has been described as a “gold mine” by many a businessman, could be blown out of the sky if steps are not taken to halt its poor performances.
The airline, which has been in operation for about 42 years, has remained in business with great difficulty with its position worsening.
There is therefore, the need for quick steps to be taken to streamline costs, as its operating costs far exceeds the operating revenue.
“If these are not immediately checked, no amount of additional revenue sought for the airline would be able to alter the present financial positions.”
Sources close to Ghana Airways have confirmed that with the operating outflows far exceeding operating inflows, together with the need to service the huge backlog of trade creditors, short term debts and overdrafts, a lot needs to be done and quickly too to avert an extremely grave situation.
Source: GhanaWeb
