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HomeNewsLocal NewsRegional Leaders Give The Commitment To Write Off Debt Owed By LIAT

Regional Leaders Give The Commitment To Write Off Debt Owed By LIAT

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A number of regional leaders have given their commitment to writing off debts owed to them by LIAT, which is now in Administration, Prime Minister Gaston Browne revealed on Saturday, September 12, 2020 on Pointe FM in Antigua.

Administrator Cleveland Seaforth has been negotiating with creditors asking them for certain debt write-offs.

“In fact, that matter was raised yesterday by me with some of the heads within the region and they have all committed to writing off their debt,” Prime Minister Browne said.

“So I believe sometime during the course of [this] week that we’ll be hearing from the various Heads within the region to write off the outstanding airport taxes and other fees that were due by LIAT.”

Prime Minister Browne said the Administrator is also speaking with other creditors, adding that the whole idea is to get to a significant write-down in the liabilities so that there could be some level of severance paid to the staff.

Meanwhile, Antigua and Barbuda leader said the Administrator continues to negotiate with a few prospective investors.

“I’m not aware that there’s any firm deal as yet but we still remain hopeful that within the 120-day period that we will have LIAT back in the air,” he said.

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