Redjet founder dies at 58

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Wiki: http://en.wikipedia.org/wiki/Airone_Caribbean
Web Site: http://www.flyredjet.com/
Started out in 2010 as Project named Air One
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bimjim
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Redjet founder dies at 58

Unread post by bimjim » Sat Aug 02, 2014

http://www.trinidadexpress.com/business ... 24901.html

Redjet founder dies at 58
Aug 1, 2014

CMC

Ian Burns, the founder of Redjet, the airline that was the flag carrier of Barbados, has died. He died in his native Ireland on Wednesday. Burns, 58, died from a massive heart attack.

Barbadian businessman Ralph ‘Bizzy’ Williams said on Thursday that Burns probably died of a broken heart due to the failure of the low cost carrier.

Burns founded Redjet in 2010 with one-way fares as low as US$9.99 across regional destinations.

The airline started operating from Barbados to Trinidad in July 2011 and offered flights to nine destinations around the Caribbean. Though widely popular among Caribbean commuters, the airline never got the institutional support sought from regional governments, Williams said. It ran into financial problems and collapsed in 2012.

“The man came to Barbados. He tried to set up a regional airline. He was frustrated non-stop by technocrats, here and in the other islands,” contended Williams, an investor who said he lost millions in the venture.

“And I guess he died of a broken heart. His heart failed him, and having to go back to Ireland to face all the people who invested in his project would have been a tough time for him. He was not a guy who was trivial with people’s money,” Williams said.

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Re: Redjet founder dies at 58

Unread post by bimjim » Sat Aug 02, 2014

Bizzy should stop spouting all this nonsense. Yes, he lost money, but when you are an investor that is a risk you MUST face - as when you go to the casino, NEVER gamble or invest money you cannot afford to lose.

ANY investment, not just aviation, is a gamble. When you put your money in the stock market there is not a soul on earth who can guarantee you will get any of it back. The fact is, people invest in aviation for the same reason they invest in the stock market - much bigger returns than the bank, and (as with the first Microsoft investors) just a few bucks in the right place on the ground floor can make you a multi-millionaire.

Bizzy is just whining now... my advice is to accept you took the risk, lost the money, and move on. You risk money every day with your business dealings, but those people you can bully to improve performance and fear retribution if you do not get your money back, -plus promised interest. REDjet is lost and gone, get over it.

And now Ian Burns is gone, too... you can bet your bottom Bippy that he was not pining over it like you think he was but going after new schemes and investors for the next Project - it's the way things are done in the world, not forever squirming over spilled milk.

People in the investment business understand losses - and do their due diligence to try to minimise them. That's what Business Plans are for and why they are scrutinised so closely.

Not speaking ill of the dead, but Burns made himself Chairman and his son the Number Two - yet neither had any aviation experience whatsoever, and they refuses to seek out or take local aviation advice. You knew that, and the fact that they were tied in with the Digicel business, which is telecommunications. Neither had ever started any company in the Caribbean, far less an airline, and I have my doubts they knew how to work the politics that plays such a big part in this region.

You are supposed to be hard-headed businessman, Bizzy. Losses are a natural part of business - yes, I know you will never invest in aviation again, now stop whining and move on!

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