View Full Version : Star-Liat
SpeedyG
17th Mar 2007, 01:21
Whats the latest with the merger??
camprax
17th Mar 2007, 01:34
not a thing..playing their cards very close.....
Gooneyone
21st Mar 2007, 20:09
Latest is that it's not a merger - LIAT is supposed to be buying Star!! Don't ask about the financing. No-one seems too clear on that.
chock2chock
26th Mar 2007, 20:54
Have they completed downsizing, or are we going to see more dash 8s go the way of the other four?
rumflier
27th Mar 2007, 19:32
A mass exodus of pilots has not surprisingly begun - from both camps. Many are choosing not to wait for their payoffs and get out of dodge.
In terms of the merger, it has come to a halt as two of the three government shareholders in Liat have finally decided to question the deal.
In a nutshell, Star's owner Stanford has offered Liat US$55m to buy him out. His bank will be lending the money and in return he will gain a 35% holding in the new airline.
Initially the govt's snapped up this offer but only now are the questioning the terms of repayment of the loan... it's not rocket science. Failure to repay within the two year period will result in Stanford taking control of the new airline. Likewise the govts are hoping to raise the repayment by an IPO. Hmmmm, who do you reckon is going to snap up the shares.
Either way, Stanford will eventually get what he wants, what he wanted six years ago when he offered to buy Liat.
chock2chock
28th Mar 2007, 14:24
Yes, I heard that some Star pilots have headed off to africa