PNGAir

[#1AHRS]

Looks like the ex Skytranz swamp is being drained at PNGAir. Starting with the CEO who just resigned. We all know there is a shortage of pilots, but 8 Captains leaving in one month ... time for a rethink.

[Far Canel]

Is TCAS still there?

[#1AHRS]

Its a great place to do some really interesting flying. However, employees generally don't resign in droves (though pilots can be fickle) because of a bad company, but rather it's bad managers that generally prompt their exodus. They are leaking pilots big time right now and have uncrewed aircraft. PNGAir management is a group of management that were thrown a lifeline after Skytranz Mk1 went down the gurgler . Irony there really as I guess it was poor management that played its part in Skytranz demise. They havent really stepped up to their game, nor adapted to PNG and still live in Cairns with their snouts well and truly buried in the company trough. But then this is PNG!
PNGAir is almost an essential service to a country that has no Highway structure and I would be surprised if they go, but they could do a heck of a lot better with a decent management team. If indeed the Swamp is being drained, then it is not before its time and I'm sure things will improve.

[beached az]

Is TCAS still there?
Good question? Not if the Swamp is actually being drained you would think.
Hopefully they will promote from within this time. There used to be some excellence candidates amongst the ranks, unless they were caught up in the mass exodus?
8 Skippers leaving in one month does seem more like Air Nogut though?

Interesting times ahead
BAz ;)

[Jock p]

https://www.linkedin.com/pulse/employees-dont-quit-job-boss-brigette-hyacinth/
nothing more needs to be said!!

[cessna95]

are they on a hiring freeze now?

have not heard from them for over a month now.

[geeup]

Sounds like they may have hired some driftwood to refill the swamp.

The circle continues.

[#1AHRS]

Is TCAS still there?
He's Gone.

[spearchucker]

I bet a lot of people will be happy to see the back of TCAS and the Jingly bean counter.

[NAV INPUT]

This is an urgent call to NASFUND & MRDC, the two major shareholders in PNG AIR LIMITED.

PNG AIR LIMITED has been making a loss every year, and now the two shareholders have engaged auditors to do investigative audits to establish the facts why the airline company is making a loss, regardless of improvements in bringing 8x brand new ATRs.

The facts are very simple, if your EXPENSES are more than your income, you make a loss.

1. Most of the top Management's expenses are very high, Salary & wages alone for ONLY 30 expatriates is K2 million a FORTNIGHT, and 300+ locals is only K200,000.00 a fortnight.

The excessive K2million a fortnight or K8Million a month is only on Salary & Wages, excluding accommodation, fly in n outs of Pom, travel allowances and others.

All of these managers live in Australia and do fly in and fly outs. They live in hotels in PNG from Tuesdays to Thursdays and fly out on Friday and return on Mondays. Even the hotels are not used on Weekends, PNG AIR LIMITED is still paying for it fully, for the whole 7days, and 30day per month annually.

For a Financial Controller, his total Gross Salary per annum is K700,000.00+ excluding expenses like accommodation, fly in n outs!! Imagine the all 30 expats other expenses and benefits collectively!!!
PNG AIR is only there to feed these bastards on the expenses of us who save with NASFUND Savings.

Another syndicate is the collaboration in the Accounts Payable Division where the AP Manager is doing favours from the FC, Financial Accountant, COO, who liaise with three 3 stationery companies and make payments over K200,000 per month only on STATIONERY alone, let NASFUND & MRDC engaged auditors to check that n verify.

Now our vocal local staff who raising the alarm are being terminated on the spot, one victim is a senior staff (lady) who was just terminated yesterday, 21st May 2018 when she exposed it (AP) deals to the Internal Auditor.

Why these expatriates work in collaboration because the now terminated CEO brought in friends and cronies who know each other from his work contacts and networks, so all departments in PNG AIR LTD are being controlled by this network of 'save pes' from a certain ethnic group too.

NASFUND & MRDC must remove all the expatriates from Finance, Operations, HR and remove local who cover these expatriates like the HR Manager and AP Manager.

We want a thorough investigation and remove all expatriates in the company, save cost and make the airline company prosperous n profitable. NASFUND Contributor

[Far Canel]

TCAS is a loss. But will pop his head up some were

[bouncebabybounce]

TCAS is a loss. But will pop his head up some were

yeah TCAS popped his head up at Ansett sim center signed in under PNGair. Muppet is still hanging on

[Jock p]

This is an urgent call to NASFUND & MRDC, the two major shareholders in PNG AIR LIMITED.

PNG AIR LIMITED has been making a loss every year, and now the two shareholders have engaged auditors to do investigative audits to establish the facts why the airline company is making a loss, regardless of improvements in bringing 8x brand new ATRs.

The facts are very simple, if your EXPENSES are more than your income, you make a loss.

1. Most of the top Management's expenses are very high, Salary & wages alone for ONLY 30 expatriates is K2 million a FORTNIGHT, and 300+ locals is only K200,000.00 a fortnight.

The excessive K2million a fortnight or K8Million a month is only on Salary & Wages, excluding accommodation, fly in n outs of Pom, travel allowances and others.

All of these managers live in Australia and do fly in and fly outs. They live in hotels in PNG from Tuesdays to Thursdays and fly out on Friday and return on Mondays. Even the hotels are not used on Weekends, PNG AIR LIMITED is still paying for it fully, for the whole 7days, and 30day per month annually.

For a Financial Controller, his total Gross Salary per annum is K700,000.00+ excluding expenses like accommodation, fly in n outs!! Imagine the all 30 expats other expenses and benefits collectively!!!
PNG AIR is only there to feed these bastards on the expenses of us who save with NASFUND Savings.

Another syndicate is the collaboration in the Accounts Payable Division where the AP Manager is doing favours from the FC, Financial Accountant, COO, who liaise with three 3 stationery companies and make payments over K200,000 per month only on STATIONERY alone, let NASFUND & MRDC engaged auditors to check that n verify.

Now our vocal local staff who raising the alarm are being terminated on the spot, one victim is a senior staff (lady) who was just terminated yesterday, 21st May 2018 when she exposed it (AP) deals to the Internal Auditor.

Why these expatriates work in collaboration because the now terminated CEO brought in friends and cronies who know each other from his work contacts and networks, so all departments in PNG AIR LTD are being controlled by this network of 'save pes' from a certain ethnic group too.

NASFUND & MRDC must remove all the expatriates from Finance, Operations, HR and remove local who cover these expatriates like the HR Manager and AP Manager.

We want a thorough investigation and remove all expatriates in the company, save cost and make the airline company prosperous n profitable. NASFUND Contributor



Hmm I had heard that there had been fingers in the till but that sounds dreadful. As a holder I would be concerned as well. Best of luck getting it sorted. I know many good people in PNG Air and they dont deserve this level of incompetence for the hard work they do.

[geeup]

Sounds like those expats are holding the company & country back..

[faheel]

I found this on the pom stock exchange site, never a good sign when this happens.
PNG Air Limited (POMSOX: CGA) is experiencing some delays in having its audit report issued in respect of its financial statements for the year ending 31 December 2017. This delay will prevent the Company from sending an Annual Report to all holders of securities within the time limit allowed by Listing Rule 4.6. It will in turn prevent the Company from complying with the time limits set under sections 101(3), 179(2) and 209(1) of the Companies Act for preparation of financial statements, preparation and despatch of an Annual Report and holding its Annual General Meeting of Shareholders.
Accordingly, the Company has requested a waiver from the Port Moresby Stock Exchange regarding compliance with the time limit specified in Listing Rule 4.6, provided that the Company’s 2017 Annual Report is dispatched to shareholders by not later than 31 August 2018, and has requested from the Registrar of Companies extensions to 31 August 2018 to prepare financial statements and the 2017 Annual Report, and to 30 September 2018 to hold the Annual General Meeting.
ENDS

[geeup]

Nothing new about the Annual Report as it’s never delivered on time typical PNG Business.
All just to hard and to be honest I don’t think many PNG Businesses really know their true position.

[packapoo]

Probably like they always did. Bl00dy terrible. The brown bottle with the green label so much nicer.....

[NAV INPUT]

yeah TCAS popped his head up at Ansett sim center signed in under PNGair. Muppet is still hanging on

Still hanging on, not surprising though. The boys in Cairns rumour that there are now ‘his and hers’ late model BMW cars parked in the driveway and a few rental properies in CNS are attached to his name. Not bad for three days a week.

[#1AHRS]

NASFUND is essentially the superannuation scheme of PNG. Let’s hope that their investment in this airline does in fact leave something for the locals.

[packapoo]

The same super scheme that O'Steal was in charge of back in Maladina's burglement of it....

[bouncebabybounce]

Still hanging on, not surprising though. The boys in Cairns rumour that there are now ‘his and hers’ late model BMW cars parked in the driveway and a few rental properies in CNS are attached to his name. Not bad for three days a week.

Funny you say that just had that confirmed by someone in the office, seems he's not only hated by pilots it turns out 🤣

[ResumeOwnNav]

Looks like PNG Air has been delisted / suspended from trading on the POM Stock Exchange.

https://postcourier.com.pg/png-air-delisted-pomsox/

[NCD]

Major Shareholders in PNG Air are MRDC (wholly owned by the Govt) through investments, and NASFUND (mostly owned by the employees of PNG) by compulsory superannuation payments.

Says a lot for PNG when a company holding so much of the country's/people cash is allowed to get away with non financial reporting to be delisted from POMSOX.

[faheel]

Says a lot for PNG when a company holding so much of the country's/people cash is allowed to get away with non financial reporting to be delisted from POMSOX.

In reality what does it really mean ? I don't think there has been any trading in their shares for at LEAST 3 years ,you could not give them away,the poor buggers that hold shares are totally stuffed,their investment is worthless.
NAS fund and MRDC should be held accountable for wasting members funds by investing in the company, they hold virtually no assets, the aircraft are leased ,the only people making money out of this fiasco are the upper management of apng and the board members.

The board should have been sacked years ago for not looking after the shareholders interests instead of their own, but hey this is PNG one of the most corrupt countries on the planet. !

In other words...ops normal