BWIA MUST CUT COSTS OR...The president of BWIA BWIA British West Indies Airways BWIA Broadband Wireless Internet Access , Conrad Aleong, said that if the Trinidad-based airline does not cut costs it could go bankrupt BANKRUPT. A person who has done, or suffered some act to be done, which is by law declared an act of bankruptcy; in such case he may be declared a bankrupt. 2. It is proper to notice that there is much difference between a bankrupt and an insolvent. within a month, reports AP (Oct. 2, 2002). BWIA must strike a deal with its 2,300 workers to save $310,000 a month in employee costs, he said. Overall, BWIA needs to cut $1 million in monthly spending to align align (  līn),v to move the teeth into their proper positions to conform to the line of occlusion. expenses with revenues, he said. "If we don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. get the concessions from the employees by Oct. 31, then we go into the hands of the creditors," Aleong said. The 62-year-old airline saw a drastic drop in the number of passengers following the Sept. 11 attacks. In the first half of 2002, the company lost $9 million. BWIA flies to 22 destinations, but may drop some as it reduces expenses. The airline, which was privatized in 1995, has annual revenues of $260 million. The government owns a 33.5% stake in BWIA. Copyright 2002 |
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