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HomeNewsLocal NewsSeverance Pay For LIAT Employees Put At $84 Million Dollars

Severance Pay For LIAT Employees Put At $84 Million Dollars

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St Kitts and Nevis (WINN): LIAT’s liquidation costs in relation to the company’s employees severance payment, is likely to be in the region of 84 million dollars, according to Vincentian Prime Minister Ralph Gonsalves, whose country is one of LIAT’s major shareholders.

Gonsalves made the disclosure on an Eastern Caribbean Central Bank initiated discussion dubbed Pandemic and Regional Air Transport.

During Thursday night’s discussion, Dr. Gonsalves explained why the airline has found itself about to be liquidated.

The Vincentian leader addressed the issue of losses LIAT suffered in 2017, 2018, and 2020.

In his view, such huge losses make liquidation a priority.

 

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