August 6, 2008
New Head for Jamaican Airline
Text of report by Caribbean Media Corporation news agency website
JAMAICA-AIRLINE-New head for financially troubled national airline KINGSTON, Jamaica, CMC - Veteran airline executive Edward Wegel has been appointed as the new Chief Executive Officer of the financially troubled national airline, Air Jamaica. Wegel received the nod over Canadian airline manager David Banmiller who was also being considered for the post. Wegel, an American, will assume duties at month end. He has more than 25 years of experience in the airline industry as well as in investment banking and restructuring. Between 1994 and 1996 he was President as well as a member of the board of BWIA International Airways. He also served as a director of finance for Eastern Airlines. Wegel was Vice President in the investment banking/restructuring division of Lehman Brothers in New York wherehe worked on the restructuring of several major airlines. Wegel will have the task of leading Air Jamaica until its planned privatisation next year. The Jamaica government has already announced that it is searching for a private sector partner to takeover the operations of the financially-troubled airline which has racked up billions of dollars in debt. The sale is expected to be completed by April next year.
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