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Mac signs deal in Manila

Posted on Wed, 10/31/2012 - 12:39 in Local Business

large.jpg(CNS Business): During his recent trip to Asia the Cayman Islands premier signed an MOU with a major conglomerate in the Philippines. Although government has not yet released the details of the deal with the San Miguel Corporation (SMC), a food corporation and majority shareholder in Philippine Airlines, it is understood to involve investment into Cayman Airways Limited (CAL). McKeeva Bush signed the deal when he was in Manila, which sources say could involve efforts by the Cayman government to assist the firm’s airline to expand its flights into the United States. However, this may be blocked by the FCO because of problems regarding safety standards in the country.

Alongside an investment in Cayman Airways and a possible involvement in the development of local airports, including the one in Little Cayman, the premier has reportedly described the MOU as presenting an opportunity for the Cayman Islands government to explore various investment opportunities with the Asian corporation that will be “mutually beneficial”. 

At this stage very few details of those “opportunities” or the basis of the memorandum of understanding have been revealed. Nevertheless, Bush’s office did release a picture of the premier signing the deal with SMC’s president, Ramon S Ang, on Bush’s Twitter account.

Despite the possibilities that may or may not arise regarding investment with the Asian firm, sources close to the deal tell CNS Business that there are already some concerns regarding the possible areas of discussion. Questions have been raised about the potential investment in CAL by any outside operation, but it is the offer of assistance to Philippine Airlines Limited (PAL) by the Cayman government that may prove to be the sticking point for the deal to move forward.

PAL has been listed by the US aviation authorities as a category two airline for some five years and has been blacklisted by European airports. This has prevented the airline from expanding its flights into North America or Europe due to concerns over safety standards in Manila, which impacts all air carriers from the Philippines. It is understood that the talks between the Cayman government and the San Miguel Group have involved the possibility of Cayman assisting the airline to get around this issue, which is preventing the airline’s expansion.

It is understood, however, that the US authorities would object to any attempts to circumvent its rules regarding safety standards and has already lobbied the UK to ensure that it does not allow any of its overseas territories to circumvent important safeguards.

Bush is expected to reveal the details of the MOU along with other details of his recent trip to Asia when the Legislative Assembly returns on Monday.

Comments

Submitted by Anonymous on Sat, 11/03/2012 - 04:27

Watch now he will kick the Canadians out of the airport deal and bring in the Filipinos.. What a mess!

Submitted by Bunny Rabbit on Fri, 11/02/2012 - 12:33

Maybe he was left stranded at an airport and PAL offered him a free flight, a bit like the one he got in the Bahamas with the friends of Cohen along with all his UDP cronies. 

Submitted by Bottlescrew Bill on Thu, 11/01/2012 - 20:00

There's nothing to this.  Mac's MOUs are literally not worth the paper they are written on.  That's a good thing though, since if they were binding then whoever sat across the table and signed it would be suing Cayman in about 6 months when Mac tells them he won't do wnatever it says he is supposed to do, just as he always does.

Submitted by Anonymous on Thu, 11/01/2012 - 17:13

It is bad enough that the freeloaders are standing by their Santa - but the rest of  you will be so out of complaints against  the $%%^ premier by May 2013 that you will forget how bad he has been and  re-elect him again...

Submitted by Anonymous on Thu, 11/01/2012 - 14:39

Oh how we forget so easy. Why do we continue to be surprised by McKeeva's actions. Remember that Charles Clifford warned us repeatedly about McKeeva and more specifically in this case the Chuckster warned us that Mac was trying to sell Cayman Airway's to Air Jamaica in 2004. Remember that ?
Oh that would have been a decision McKeeva ! Remind me again.....where is Air Jamaica now. Oh thats right it is owned by the Trinidadian Government now and operating only a handful of planes.
My question is how much more of this will we accept before we rise up as a people and take our country back from this crazy man ? What will it take ? Who will lead it ?
I hope that we all understand that the current politicians in the LA, both UDP and PPM, don't have the courage or will to do what is required. We must act......just as the Coalition against the dump in BT and the Coalition against closing the road in West Bay have acted.
Its time Cayman !
 

Submitted by Chris Johnson on Thu, 11/01/2012 - 10:46

So Cayman Aiways may have a new investor. I wonder if the Board of Directors know about this.
This one man economic meglomaniac must go.

Submitted by Anonymous on Thu, 11/01/2012 - 09:55

I do believe the man has lost his marbles.  He is running to and fro around the world like  the devil that he is creating havoc.  How can he come up with such nonsense.  Why is he always looking after other peoples problems and taking care of ours.  the FCO will never allow any kind of partnership with the philipines - he will have to fight the USA and the FCO on this one.  I don't even understand why we allow him to worry us- nothing will come of this

Submitted by Knot S Smart on Thu, 11/01/2012 - 09:36

This spoils my retirement!
I was planning to retire in the Philippines because no one knows Mac there, and I would be spared the embarrassment of hearing about him and Cayman politics...
Now he has ruined my plans...

Submitted by Anonymous on Thu, 11/01/2012 - 07:34

More smoke ane mirrors.
Why is  the Premium avoiding returning to Cayman and facing his responsibilities?

Submitted by Dred on Thu, 11/01/2012 - 06:57

Here we go again....
How much is this going to cost us to get out of?
Why must this man only attempt to deal with people having issues with the legal system, is this a case of birds of a feather?
We should make an appeal to the FCO to block all MOUs from being signed by this government before they run off and sign all this Cayman KILLER deals.
This like all of his other deals smell rank with ________tion.

Submitted by Anonymous on Thu, 11/01/2012 - 06:50

Fortunately an MOU means nothing,  The premier has not much idea about air regulation and the director here, is his sidekick and has to do as he is told.  Asian culture takes skills to deal with and no one in government possesses it, so I predict foriegners will be brought in to 'consult' on it.  Hey if there is a way to make the UK take over it will be to mess with aviation, since any FAA backlash to Cayman will be extended to the UK too.

Submitted by Peanuts on Wed, 10/31/2012 - 20:50

Let's think of his past results, First Cayman Bank now one of our famous Bankrupt Banks, Royal Watler cost overrun value for money disaster, Turtle Farm now a endless money pit, Cohen Deal another great deal for someone, not Cayman, GLF Cayman paid three million in out of court deal, would now have a cruise bearthing. George Town Dump deal dead, Cayman Enterprize City still looking, Dr. Shitty no work in site, have I missed any? Oh yes Oil Refinery, and soon to fail airport expansion. Sorry forgot botched sale of GOAB building, Failure to bring Budget on time, and the crowing Glory Stan Thomas and the three or four investigations...................... In the real world you would fire someone for such a poor performance record. 

Submitted by Peter Milburn on Wed, 10/31/2012 - 20:07

And the beat goes on.Since when can this man sign MOU's willie nillie as he chooses .Has anyone been consulted on this?I think not knowing how things are being done these days.Like another blogger said above we could lose all rights to enter the USA with CAL if they find out that we are being used by another country to fulfill their own objectives.Think mr bush before you do these kinds of things.

Submitted by Anonymous on Wed, 10/31/2012 - 19:58

How far is far enough? This intended joke is not making me laugh, try something better.  CNS is this article real?

Submitted by Chris Johnson on Thu, 11/01/2012 - 10:44

Today is November 1. Mac is five months, to the day, too early.

Submitted by Charles Brown on Wed, 10/31/2012 - 17:00

I don't understand this at all.  Does the government own CAL?  If not, how can the Premier make deals concerning the company?  Does the Cayman government invest in foreign businesses?  Also, just what does “mutually beneficial” really mean?  Does it mean that the foreign corporation and the Premier both get 50% of the gravy?   Methinks we need to see the details of this "deal".

Submitted by OMG on Wed, 10/31/2012 - 16:40

You see where this is going - the US will simply put a ban on Cayman Airways flying into United States.
Then we'll all be screwed.

Submitted by The Truth on Wed, 10/31/2012 - 16:19

This is just a sham for big Mac to spend the peoples money and see Asia, then had a meeting with this bimbo to cover his tracks that he was doing an investment for the Islands, FOOL ME ONCE SHAME ON YOU, FOOL ME TWICE SHAME ON ME.

Submitted by Anonymous on Wed, 10/31/2012 - 15:20

It is not the airline that is catergory 2 it's the airport authoritiy that has oversite over the airlines that is catergory 2.

Submitted by Anonymous on Thu, 11/01/2012 - 18:02

Technically debatable - the US does place restrictions against countries not airlines but that does not mean it is because of any authority.
In any event your point is completely moot because the Europeans are more granular...they ban specific airlines and if necessary exempt specific aircraft from the ban. Since the ban - which covers all Philippines operators, PAL has more than once lobbied Europe to exempt them on the basis that whatever the perceived laxity of the authorities they maintain fully compliant aircraft and procedures.
Even though PAL is the only Phillipine Airline even registeredd to fly to Europe (although it halted operations to Europe long before the ban) Europe have specifically declined to do so so yes Phillipine Airlines have been explicitly banned from Europe!
This has a very large chance of being an unqualified disastter in terms of our reputation and could  kill Cayman Airways. If that is doubted then look at Red Jet. While its business model was flawed, the final nail was its choice to set up in Barbados (when they couldn't get agreemetn  from Jamaica) unfiortunately for RedJet Barbados is also Cat 2 so redjet lost all chance of flying to the states - KBOOM!
Anybody with knowledge of the aviation industry would know the issues here and why this is a huge risk - but then why require someone to know what they are talking about before signing a MOU?

Submitted by concerned on Wed, 10/31/2012 - 14:43

http://www.squidoo.com/top-ten-most-dangerous-airlines
 
#4
 
 
 

Submitted by Must be kidding on Wed, 10/31/2012 - 13:49

Someone please save us we are under attack by our so called own !

Submitted by Anonymous on Wed, 10/31/2012 - 13:41

What has he got against straight deals with straight people? Why is it always some  half-assed company?

Submitted by Just Commentin' on Wed, 10/31/2012 - 18:01

C'mon! You know the answer to that one: Because no straight people will deal with this joker. Seriously now...would you?
 

Submitted by Anonymous on Wed, 10/31/2012 - 13:29

So he's going to flood the island with millions of Filipinos????
The airline is our Flag Carrier, our pride and joy. Mr. Bush cannot sell or divest of
shares in our airlie withut cosulting the People,
Ezzard?

Submitted by Just Commentin' on Wed, 10/31/2012 - 18:11

Ezzard? Ezzard??  Ezzard??!!  What's Wizzerd got to do with this?  The People need to take Makeewah in hand. It was the People who elected him and his motley crewe so why cry to Wizzerd?
 
And what gives anyone the idea that Wizzerd would be one whit less autocratic than Makeewah if The Wizz were in power? If you recall Makeewah was much like Wizzerd back in the day...when he was just a peon: lots of mouth...always ready to call down the powers that be when he did not agree with them...remember?

Submitted by Bear Baiter on Wed, 10/31/2012 - 16:44

Who says he can't? He's giving away a big chunck of our West Bay Road!!

Submitted by Bear Baiter on Wed, 10/31/2012 - 13:15

Let's see, he wants to give our sea port to the Chineese, our air port to the Canadians, he's already given much of our land to the Darts and now he wants to give our airline to the Phillipinos. Sure doesn't leave much for those of us whose home this is! Just wish he'd give himself away - few, if any, would complain about that!!

Submitted by Freddy on Thu, 11/01/2012 - 00:44

The giveaways will be in May 2013!! I guess the turtle farm is next....Just please giveway the UDP in May.   

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