The Democratic National Alliance yesterday speaking to claims via a press statement, that the national flag carrier has borrowed over $100 million that has gone unaccounted for; questioning how it could have gone unnoticed.

Last week this information was divulged by Member of Parliament (MP) Neko Grant in the House of Assembly, who charged that Bahamasair is bankrupt, stating that the company borrowed over $100 million over the course of the government’s time in office.

The DNA questioned how this information could have gone unnoticed, as such expenditures and appropriation for expenditures should go through the House of Assembly for approval and must be a part of the budget process, accounted for and documented.

“Without question our public corporations need support from the government. More importantly, due to this recent matter with Bahamasair, and most certainly as we hearken to the issue with the former Bahamas Electricity Corporation and the financing model that put them deeper into a debt spiral under the first Christie led government, we have come to understand that the status quo in the modern era just won’t cut it,” the statement said.

The DNA asserted that if there is no disclosure in the House of Assembly with regard to all public finances, then “we have larger problems than just this obscene electioneering budget- we have a government not paying due care and attention to the Bahamian purse and how they put Bahamian taxpayers into blind obligations and deeper debt”.

“We simply are not sure and I think it is safe to say that this government has lost the trust and faith of the Bahamian people with regard to the way they do business. Particularly in light of the BEC scandal that has caused a former Senator to be found guilty of bribery, and we are not casting aspersions on the process with regard to Bahamasair’s new fleet and the $100 million, but we are simply at a stage in a new Bahamian era where we desperately need more openness on how our money is spent, leveraged and debts being repaid,” the statement continued.

Additionally, the DNA said to make matters worse, it is not sure if the vetting of the firms that outfitted Bahamasair with their new fleet- which it was claimed that the monies were borrowed for- were up to standard, brought to the House of Assembly and tabled in an open, fair and transparent manner.

Meantime the DNA said if in government, it will cause there to be a strict adherence to the public audits of government corporations with a view in mind to strengthening the financial administration and audit act and simultaneously the provisions for the auditor general.