Senator Don Wehby has announced a new deadline for privatisation of Air Jamaica, saying the sale is not expected until the end of June.

But the minister also said he already had an indicative offer from an airline group, and expected progress on the negotiations at a meeting set for mid-April.

The prospective investors have been prequalified by the Interna-tional Finance Corporation (IFC) team that is giving technical advice to Wehby on the airline sale.

But again, Wehby did not name the potential buyer, citing a non-disclosure agreement.

If Air Jamaica is not sold, the airline would either continue as a drain on the public purse at a rate of US$150 million per year. The possibility of winding up the operation has not been discussed.

Air Jamaica currently has loans outstanding of over US$600 million or J$52.8 billion.

business@gleanerjm.com