The Nunatsiavut Group of Companies is keeping the purchase price of their recent deal with Air Labrador private to keep a leg up on the competition.
James Thorbourne is NGC’s General Manager.
He says they chose to keep the details of their recent purchase of the majority of Air Labrador private so as to not give the competition an advantage.
Thorbourne says revealing the purchase price can reveal much about the performance of the airline.
The competition, namely Innu Mikun, could take that information and use it to gain insight into Air Labrador’s financial performance.
Thorbourne says the details of the investment will be revealed when the NGC releases its annual report in early-2013.
He adds that they are not trying to hide anything from the shareholders, Nunatsiavut beneficiaries, but trying to protect their competitive strengths.