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( recall doing a tour of Engineering, and a guy in the tyre retreading plant telling the story of where the company bought their tyres. The retreading shop sold them to a Bahamas company (owned by TNT/Newscorp) for a few hundred $$, and AN bought them from that company for thousands of $$. thereby putting AN's profit offshore. The tyre retreading company was only one of dozens of similar arrangements)
All International Operators do that ! I remember one RDB with a hangar in YBAF where the aircraft were overhauled after ferrying in, and a holding account in a nearby Tax Free country were the excess payments were sent while the direct cost was remitted to the hangar operation.
All while exhorting us to fly more, carry more, and accept less salary.
Standard Procedure.
Last edited by frigatebird; 27th Sep 2009 at 06:44.