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PNG Air

Old 14th Oct 2020, 07:33
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PNG Air

Anyone know the latest on PNG Air?

when I left they were trading insolvent and based on number of flights must be getting worse?


why havenít the CEO and Chairman been arrested or donít insolvency rules apply?

I know there were previous threads but couldnít find them
WallyDunc is offline  
Old 14th Oct 2020, 21:34
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Originally Posted by WallyDunc View Post
Anyone know the latest on PNG Air?

when I left they were trading insolvent and based on number of flights must be getting worse?


why haven’t the CEO and Chairman been arrested or don’t insolvency rules apply?

I know there were previous threads but couldn’t find them
1. It's PNG
2. The CEO is actually the COO's glove puppet.
3. It's PNG.
minigundiplomat is offline  
Old 14th Oct 2020, 22:08
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Re the above;
1. It's PNG
2. The CEO is actually the COO's glove puppet.
3. It's PNG
4. PNG is the "land of the unexpected"

If you were not aware of the 4 keys factors; then I assume you were with PNG Air for only a very short time.
Mumbai Merlin is offline  
Old 14th Oct 2020, 22:39
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WallyDunc,

USE THE SEARCH !

Air Niugini / Link PNG - will they survive?



Mumbai Merlin is offline  
Old 15th Oct 2020, 02:07
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Mumbai,

I felt point 4 was covered by points 1 and 3, but happy if you want to be more explicit......
minigundiplomat is offline  
Old 15th Oct 2020, 02:14
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The definition of insolvency includes the phrase "unable to pay it's debts as and when they become due". Whilst the entity may have a negative net worth, provided they are paying the bills on time they may not technically be insolvent. And if the creditors are being paid, why would they seek a Court determination the entity is insolvent?

A Government owned entity may also be protected from insolvency by legislation, guarantees or grants.

And of course, as others observed, it is in PNG, the Land of the Unexpected.

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