NASSAU, Bahamas -- Bahamasair, which has not posted a profit in its
29 years of operation, expects to do so in two years, according to
its board of directors who submitted a restructuring plan for
government approval.
It calls for a staff reduction of 150, leaving 564 employees --
plus pay cuts totaling $1 million annually for management and
pilots.
Other recommendations include discontinuing service on
low-traffic routes and turning the routes over to smaller carriers;
replacing two Boeing 737-200s with more fuel-efficient, leased
737-300s; and leasing two more Dash 8s.
Meanwhile, code-sharing arrangements with other airlines are
under consideration.