LIAT likely to face liquidation in Caribbean | News

Antiguan key minister, Gaston Browne, has needed LIAT will be liquidated following yrs of money

Antiguan key minister, Gaston Browne, has needed LIAT will be liquidated following yrs of money losses.

The regional airline is anticipated to be changed by a new, “leaner” carrier.

Addressing local radio, Browne stated: “Covid-19 has improved losses exponentially.

“You would have located that considering that Covid-19, the planes have been grounded, they have to pay back the lease payments and they are not obtaining any profits.

“A determination will have to be created to collapse it and then maybe the countries within the location will have to occur together to form a new entity.”

The key minister stated there will be a assembly of all shareholders shortly.

He extra that he hoped the new entity could protected a combination of community and private capital.

Leeward Island Air Transportation was proven in 1956 on the island of Montserrat, prior to Court docket Line Aviation of the Uk acquired management and renamed the airline LIAT in 1971.

Possession of the airline was acquired by 11 Caribbean governments three yrs later.

Professional passenger services at LIAT are currently suspended right until at least July fifteenth.

Main executive, Julie Reifer-Jones, recently stated, when territories have started to announce reopening dates, extended quarantine limitations are impacting the demand for journey.

LIAT operates a fleet of ATR 42 and ATR 72 aircraft across a regional network of fifteen places.

It is owned by regional shareholders, with the vast majority staying the governments of Barbados, Antigua & Barbuda and St. Vincent & the Grenadines.

Impression: Markus Mainka/DPA/PA Photographs