Non-shareholders to be targeted in quest to solve LIAT financial woes

0
27
- Advertisement -

CARICOM Heads of Government alongside shareholders and Executive Managers of Leeward Islands Air Transport, more popularly known as LIAT, will meet today in St. Vincent and the Grenadines to find alternative ways to aid in funding the already struggling airline.
The airline was recently the subject of intense deliberation at a CARICOM Heads meeting in St. Kitts, and also made headlines following a subsequent statement by Trinidad and Tobago’s Prime Minister which stated that the regional carrier only had enough money to stay in business for another 10 days.
One of those alternatives likely to be the main topic of discussion is the request by the shareholders of LIAT to five non-shareholding countries – Guyana, Trinidad & Tobago, Grenada, St. Lucia and St. Kitts/Nevis – to purchase shares in the cash-strapped airline.
This news was confirmed by the Government’s Chief of Staff, Lionel “Max” Hurst.
Hurst added that non-shareholding states which enjoy services from LIAT are likely to be asked by the five contributing or shareholding states to support and subscribe to at least one of three options: purchase shares in LIAT, make a financial contribution, or enter into a minimum revenue guarantee for LIAT flights which enter into their countries.
LIAT’s headquarters is located in Antigua and Barbuda, which also happens to be the airline’s second largest shareholder.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here