(268 Today) Prime Minister Gaston Browne said while “LIAT is presently on life-support,” as far as Antigua and Barbuda is concerned, “corporate euthanasia is not the answer.”
He said what’s required is reorganization to bring LIAT back to good health. And he said both governments and private sector entities have expressed an interest in doing just that.
“There are several proposals on the table from private entities. There is one entity that has offered a US$25 million investment for 51 percent of the shares,” the Prime Minister said Saturday on Pointe FM’s Browne and Browne Show.
“There’s another regional airline that has offered to invest about US$25 million and a few planes for about 60 percent of the shares in LIAT.
“And there are at least three governments that have shown some interest in investing in LIAT, so there are some prospects that the Administrator is pursuing. And we believe that ultimately, on the basis that the Administrator is successful in getting the cooperation of creditors, that LIAT will be organized and be back in the air to take its pole position, to continue to be the number one carrier within the Caribbean region,” Browne added.
The Prime Minister said while certain prospective investors have written to him directly, expressing their interest in LIAT, he has passed on all the information to the Administrator, Cleveland Seaforth, who has sole managerial responsibility for the airline.