GA 2000's accounts will remain private - Nascimento Stabroek News February 22, 2001 GA 2000 is a private company and will not disclose its accounts to the public, communications consultant to the airline, Kit Nascimento said on Tuesday. 2000 was the company's first full year in operation. Nascimento denied that the airline was in financial trouble, stating that all GA 2000 was facing was "cash flow problems". Asked about GA 2000 accumulating a substantial new debt since it began operations, Nascimento said he was not aware of the debt (or the figure quoted) and even if he knew, he would not make the airline's financial business public. "We are competing against two airlines which would like to see us discontinue our operation, but we are not discontinuing our operation. We will continue to fly and compete on behalf of Guyana," Nascimento said. Aviation Investment, the private sector partner with the government in GA 2000, which manages the airline, is currently talking to two groups in North America to sell a portion of its shares. The names of these groups are not being disclosed at this stage. The government may get involved in the negotiation at some point. A bankrupt Guyana Airways Corporation (GAC) was privatised in April 1999 with Aviation Investment taking control of 51% of the airline's worth. The private equity in the airline was worth US$1.8 million at the time of privatisation and the government's share US$1.7 million. GA 2000 also took over US$2.2 million of the old GAC's US$9 million debt. GA 2000, which had some initial teething problems with its airbus, was reported to be doing better since it acquired a new aircraft but has ongoing cash-flow difficulties. Follow the goings-on in Guyana in Guyana Today If you do not see the 'Guyana: Land of Six Peoples' drop-down menu on the left then please click here to enter through the front door which will give you additional options and information.