PDP's Nirmal Singh blind to ownership evidence!
 Pichler's cock-and-bull explanation: "Fiji Airways owns the planes" |  PDP's spokesman takes off with Pichler's cock-and-bull explanation, giving the new CEO a big thumps up! |
The Cock-And Bull Explanation:
Fiji Airways clears air: Questions raised about the ownership of the three A330 Airbuses have been put to rest by the new Fiji Airways CEO Stefan Pichler. In a statement, the People’s Democratic Party called for enlightenment of the role of Waqavuka Financing Limited and its role in the acquisition of the new aircraft. The party claims the aircraft are owned by Waqavuka Financing Limited and leased to Fiji airways.
“Finance vehicle to get the ECA, credit insurance, if you want to get financing from European banks, it’s the way it is done, every airline in the world does it, and there is no impact on ownership.” Pichler says people have miss-interpreted the concept as this was a medium used to get the loan from European banks. He goes on to say that they have cleared most of their loan from the Fiji National Provident Fund. Source: FBC News.
Fiji Airways clears air: Questions raised about the ownership of the three A330 Airbuses have been put to rest by the new Fiji Airways CEO Stefan Pichler. In a statement, the People’s Democratic Party called for enlightenment of the role of Waqavuka Financing Limited and its role in the acquisition of the new aircraft. The party claims the aircraft are owned by Waqavuka Financing Limited and leased to Fiji airways.
“Finance vehicle to get the ECA, credit insurance, if you want to get financing from European banks, it’s the way it is done, every airline in the world does it, and there is no impact on ownership.” Pichler says people have miss-interpreted the concept as this was a medium used to get the loan from European banks. He goes on to say that they have cleared most of their loan from the Fiji National Provident Fund. Source: FBC News.
