LIAT’s owner-governments meet on finance plan

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(Barbados Today) Shareholder governments of the cash-strapped regional airline, LIAT, were meeting here late into Monday to discuss the financial crisis facing the Antigua-based airline.

Vincentian Prime Minister Dr Ralph Gonsalves said that the “urgent meeting” to be attended by the airline’s management and the trade unions representatives, had been mandated by LIAT shareholders at a meeting held here over the last weekend.

“I have already secured the personal commitment of the three leaders of the main unions including LIALPA (Leeward Islands Airline Pilots Association), the pilots’ unions, based in Antigua and Barbuda,” he told Parliament in Kingstown on Monday, adding that the Bridgetown talks were vital for the further progress of the amended restructuring option.

The Barbados meeting comes as Caribbean countries are being asked to contribute a total of US$5.4 million in emergency funding to keep the airline in the sky. At the same time, 11 destinations have been given until Friday, March 15, to respond to the airline’s minimal revenue guarantee (MRG) proposals.

Gonsalves said that countries, including the four major shareholders – Antigua and Barbuda, Barbados, Dominica and St. Vincent and the Grenadines – along with Grenada, have agreed to contribute to the US$5.4 million.

Read more at: Barbados Today

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