AIRPORT--After resigning on Monday, the former members of Windward Islands Airways International's Winair's Supervisory Board of Directors said that, despite many challenges and other issues that stagnated the company's growth, they continued to along with the Managing Director of the company to keep the company going up until today.
The board members' tenure on Winair's board spanned from August 2006 until March 21, 2011. According to the members, during this period they had to keep the company alive while faced with, among other things:
* Overseeing a company that had recorded significant losses during each of the previous years.
* Starting off with a company that was already NAf. 9 million in debt.
* The company having just sold all its aircraft to raise funds, as approved by a previous board and shareholder.
* Its leasing back those same aircraft at an immediate, additional, annual increase in expenses of more than NAf. 2 million.
* Being told by the shareholder and shareholder representative at that time that there were no plans to inject any funds into the company, as the Netherlands Antilles was being dismantled.
* Audited financial statements being four years behind and there being no current interim financial statements. Hence, insight into the true financial picture at that time was impossible and took quite some time and effort to get to the stage where the Audited Financial Statements are now two years behind, namely awaiting receipt of 2008 and 2009, with 2010 to follow shortly thereafter.
* Shortly after taking office, being faced with another annual increase in expenses of approximately NAf. 500,000 as a result of new operating facilities at Princess Juliana International Airport.
* The board being left to assume a liability of NAf. 1.4 million as a result of a failed privatisation deal that went south and ended up in the courts at the expense of Winair.
"Nonetheless, the members of the board wish the management, the future board members and the shareholders much success in taking the proper decisions in giving Winair, its employees and the travelling public the much needed financial boost, in order for the company to continue with its activities for another 50 years," the former members said.
They added that additional issues at the airline would be further outlined in a subsequent press release.
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