News
In late November 2010, Pacific Sun announced that due to current economical reasons, they were withdrawing their BN2 Islander fleet from service. This meant downsizing the Pacific Sun fleet from eight aircraft to just five.
In early December 2010 Pacific, Pacific Sun announced the redundancy of 85 out of 210 employees. This includes staff from administrative, support and operations areas as well as 15 Pilots. Pacific Sun's general manager Jim Samson, explained that continuing operating losses had resulted in management having to make some tough decisions.
"Pacific Sun has lost, on average, $6 million per year over the last three years. Continued losses are unsustainable. Regrettably as a result, we have no alternative but to restructure the airline in order to ensure its viability and success going forward," he said.
Air Pacific chief executive officer and Pacific Sun board member David Pflieger said since Air Pacific's takeover in 2007, Pacific Sun has accumulated $18.5million in losses. Air Pacific had loaned $44million to purchase Sun Air's certificate and operations and two ATR-42 aircraft
Read more about this topic: Pacific Sun
Famous quotes containing the word news:
“The news we hear, for the most part, is not news to our genius. It is the stalest repetition.”
—Henry David Thoreau (1817–1862)
“Although I am the very least of all the saints, this grace was given to me to bring to the Gentiles the news of the boundless riches of Christ...”
—Bible: New Testament, Ephesians 3:8.
“The conflict between the men who make and the men who report the news is as old as time. News may be true, but it is not truth, and reporters and officials seldom see it the same way.... In the old days, the reporters or couriers of bad news were often put to the gallows; now they are given the Pulitzer Prize, but the conflict goes on.”
—James Reston (b. 1909)