Investors backed out, and those who chipped into the kitty are left with a defunct airline. The kitty gobbled up the falcon. The losers are unquestionably the 73 employees who were probably hoping to stay off of the unemployment lines long enough to fly for free with their airline perks. Now they have had their wings clipped as well.
The CEO had to be hospitalized as he was giving a radio speech while discussing the news that the Oman backer backed right out of the deal. The co-CEO resigned a couple of days before. Did he see the writing on the wall or did someone have to perform skywriting for a more dramatic effect?
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