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.”

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.