POST Online Media Lite Edition



 

$5.3m financial guarantee for Air Vanuatu

Christian Fernsby |
The Vanuatu Government has agreed to make a guarantee to Air Vanuatu for an amount of VT592,392,950 ($5.3m).


The VT592 million guarantee will cover: Aircraft Leasing costs for Boeing 737-800 from Air Lease Corporation (ALC); ATR72-600 from Nordic Aviation Corporation (NAC); a Twin Otter from Capstone; Aircraft Insurance; and ATR72 return to service.

“Some people will be held responsible when the Commission of Inquiry complete its investigations,” Finance Minister Koanapo said.

Former Prime Minister Charlot Salwai agreed there are long outstanding issues such as overseas airport fees, and the figures requested will help pave the way forward.

Prime Minister Bob Loughman supported the motion and reminded parliament that Vanuatu exclusively owns the national airline.


What to read next

SinoPac Financial to earn $63.77 million from U.S. banking subsidiary sale
Hellman & Friedman to buy Financial Engines for $3.02 billion
First Financial Bancorp and MainSource Financial Group got OK to merger