Calm Air in “financial distress”

EIF pays a dividend it doesn’t earn or cash flow while the CEO of Calm Air, one of EIF’s airlines, had to apologize at a Thompson Chamber of Commerce meeting last week because Calm Air was “in a state of “financial distress” that affected the quality of their service.”

He admits that “their flights have only arrived on schedule 55 per cent of the time.” 

http://www.thompsoncitizen.net/news/thompson/calm-air-president-apologizes-for-company-s-shortcomings-at-chamber-of-commerce-meeting-1.22228507

The cowards at EIF have yet to answer any of the issues. Mike Pyle traveling around Toronto yesterday to pump the stock with selective disclosure to sell-side and big holders is not an answer.

It’s time to end the cover-up and come clean. Mike Pyle needs to resign.

Is the sell-side asleep? Or part of the cover-up?

We have brought up serious issues, but neither the sell-side nor the company has responded to any of the issues.

The planes are not safe. The dividend is not safe.

As an analyst with a buy rating luring people to put their hard earned money at risk, ignoring the issues is unacceptable and an embarrassment.

We will start to name names.

If the sell-side won’t respond, maybe Transport Canada or the First Nations lobbyist will. We sent them a letter:

Please click here to download pdf.