…despite millions in losses

CHAIRMAN and Chief Pilot of Guyana Airways Inc., Dr. Colin Abrams, says that the company is looking forward to continuing its plans to bring the airline on stream now that it has the green light from the courts to use its company name.

Abrams said that the company has suffered huge financial losses over the past few months, so they are eager to get off the ground so some revenue could come in as soon as possible. Abrams could not immediately put a figure to the situation but estimated it was millions in losses.

“Extremely ecstatic. Looking forward to moving forward with our project,” Abrams expressed at a press briefing on Friday at the company’s headquarters on Barack Street.
Financially [we have lost] quite a bit because we were burning capital as we sat there waiting on the decision from the court on how to proceed with the name… now that we’re on the winning side, we just have to establish everything, huddle our directors together and get this thing going again. Can’t give you that number but it’s in the millions, and we’re not talking millions of Guyana dollars we’re talking millions of US dollars.

The airline had initially hoped to go into operation from October of this year, however an issue arose over the company’s name, which put a halt on all further developments.
After the company registered under the name in 2016, earlier this year the registrar of commerce (ag) had removed the name from the company’s register citing that the name was similar to that of another company.

Abrams stated that they choose to use the name Guyana Airways Corporation Inc. because the name was available and separate from Guyana Air 2000 and for 18 years there was no flag carrier airline in Guyana and he wanted to bring one to Guyana. GAC Inc. is using the colours and logo of the former state-owned carrier. He explained that Guyana Air 2000 logo was never copyrighted and they went about things the right way.
However Justice Fidela Corbin-Lincoln on Thursday ruled in the company’s favour ordering that they be given the legal right to use and operate with the name Guyana Airways Corporation Inc.

She found that the proper procedures were not followed in the striking off of the name.
Explaining the situation on Friday, Abrams said that before the registrar could have had the name struck down, some 60 days’ notice needed to be given to the company. He equated what the registrar did to murder of his company.

“We’ve been registered since 2016 and suddenly we were unregistered without due process. A corporation is a living entity, to remove the life of that living entity you have to give them 60 days, but we never got a hearing,” Abrams noted.
It is not known if the registrar can reinstate the company and then restart the process to have the company’s name removed by issuing the 60 days’ notice, however Abrams is not worried in that regard.

“I’m not worried… I’m ecstatic right now. Because this is a big win for us. This means we can move forward, because we were burning capital like crazy. Of course you have to calculate your risk but you have to calculate the risk and the rewards,” Abrams said.
He is not yet certain given all the money lost if in the end it will all be worth it, but he has a very optimistic outlook, and is sticking by his choice to use not only the name but the colours and logo of the now defunct company.

“It is something that’s very identifiable with the Guyanese community and why not, it was available… it was there. I wouldn’t say it’s all worth it yet because today is just the day … we will have to see how things progress,” Abrams said.

The company plans to operate two 737 aircraft, and is looking to Cuba as one of its target market when it starts operating flights around the Caribbean. The company will need to do a few more processes before the airline will be allowed to operate flights to the US.
“Until we get our air operators certificate and we apply to the Department of Transportation and they initiate the process of getting the FAA to come down to Guyana to do an ICAO audit,” Abrams explained.