PNGAir

[bouncebabybounce]

Originally Posted by NAV INPUT

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