PX not helping


THE largest airlines in the world are reporting losses in the billions and they have the strongest and wisest management to minimise their debts.
Why is Kumul Consolidated Holdings Ltd continuing to divert funds from its profitable companies to Air Niugini?
Air Niugini has not demonstrated any fiscal management expected of any business under the challenges of the Covid-19 pandemic.
Why are these funds being diverted from the Government’s social and moral responsibilities to ensure citizens are provided with basic services?
Health, education and law and order cost money and this is where this income should be spent.
I understand that Air Niugini owes Kumul Consolidated Holdings around K1.2 billion.
That is from the continual support it’s been receiving, which was increased by the continual bailout of the airline.
It is time we liquidate entities that continue to demand money without generating good revenue.
Air Niugini should have been privatised decades ago and left to fend for itself.
What is it doing for the economy?
It should stop draining the economy.
PNG Air has announced a loss in its first quarter.
Can Air Niugini do the same?
Taxpayers deserve to know that.

Corporate Transparency