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10.11.2004 Feature Article

Ghana Airways Collapse: Na Who Cause Am?

Ghana Airways Collapse: Na Who Cause Am?
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30 very easy questions for the NPP govt to answer. 1. Despite having difficulties like all major airlines in the world, Ghana airways was flying 6 or 7 aircraft when the NPP took over. Why are they flying none now except for the one they lease.

2. How many consultants have the government engaged to look at Ghana airways in the last 4 years. There has been Pricewater house, Brian Davis, worldwide, Louis Berger, sh&e to name a few

3. Is it true that over $2m was spent on all these consultants?

4. What has been the result of the consultancies? Does Ghana airways not owe even more than it did before?

5. Is it true that the debt of the airline was around a $108m in March 2001 and it is now over $165m despite all the financial support from the government?

6. Why did the NPP wait until the debt had risen from just over $108m in 2001 to $165m before deciding to step in and absorb the debt?

7. Every company necessarily has some debt so why absorb all the airline's debt?

8. What was the additional increase in debt of over $50m used for? Were any planes or assets bought by Ghana airways under the NPP?

9. The previous government never put money directly into the airline. Why did the government put so much money in the airline only for the debt to increase and the management to keep changing?

10. Is it true that even Ghana civil aviation lent money to Ghana airways? Is this not irregular if true?

11. Why were other airlines given additional frequencies into Accra when Ghana airways were suffering and needed the passengers and revenue?

12. From British airways to Britannia other airlines received extra frequencies at the expense of Ghana airways. Is the loss to Ghana airways not over $20m a year? In four years would this not have lowered the airline's debt?

13. Is it true that Ghana airways could have sold its slots at Heathrow and earned at least some $40m. Why were they then given away for free?

14. Why was the management of the airline changed as many as five times in four years was it to destroy creditor and investor confidence?

15. Why did the airline lease aircraft to the tune of over $25m in three years when it had its own aircraft sitting rotting away in either Rome or Accra? Could this amount not have been used to pay alitalia or buy newer aircraft?

16. Is it true that some of planes leased were older and in worse condition than Ghana airways own aircraft?

17. Is it true that the recent Ghana airways aircraft seized in the USA was one of the leased planes?

18. Is it true that the lease was arranged by a Ghana airways dc10 captain as the lessor's agent?

19. Is it not the same captain who did not heed civil aviation's directive and flew the plane to the USA eventually causing its seizure? Resulting in immense embarrassment and loss of reputation to the airline. Is this financial loss to the state if so how much?

20. Why has the captain been allowed to walk away simply putting in his resignation from the airline?

21. How were the auditors for the forensic audit chosen? Were the original auditors not Ernst and young how did they become messers worldwide investments?

22. What happened to the infamous forensic audit report? Who are those culpable and why the silence the report was completed almost two years ago.

23. In view of what has transpired in the last 4 years, is the forensic audit going to be extended to take these recent years into account? If not why not?

24. Why was the sale or invitation for partners for Ghana airways not advertised in an open and transparent manner internationally like other airlines have done recently?

25. Why did the government assume all the debt of Ghana airways before offering it to GIA when other international airlines being privatised currently are being divested with their debt?

26. How much money is GIA buying Ghana airways shares for how much money will come to the country? And how much will be put in the airline?

27. What percentage are they buying? Who valued the company and on what basis was it valued? Is there a valuation report available?

28. How do we know the GIA solution is the best, have several airlines in the USA not gone bankrupt?

29. In the previous government several ministers and government officials particularly the president and vice president paid for tickets and flew Ghana airways why did this change during the NPP dispensation? Does this type of snobbery encourage support for the airline?

30. The collapse of Ghana airways na who cause am?? Views expressed by the author(s) do not necessarily reflect those of GhanaHomePage.

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