{"id":173432,"date":"2023-05-07T07:23:15","date_gmt":"2023-05-07T11:23:15","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=173432"},"modified":"2023-05-07T07:23:15","modified_gmt":"2023-05-07T11:23:15","slug":"nigerias-air-peace-to-have-majority-stake-in-antigua-start-up-airline-liat-2020","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/nigerias-air-peace-to-have-majority-stake-in-antigua-start-up-airline-liat-2020\/","title":{"rendered":"Nigeria’s Air Peace To Have Majority Stake In Antigua Start-Up Airline LIAT 2020"},"content":{"rendered":"
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The government of Antigua and Barbuda will partner with\u00a0Air Peace<\/a>\u00a0to revive the Caribbean national carrier LIAT under a new name. Following an agreement between both parties, the privately owned Nigerian airline will acquire a majority stake in\u00a0LIAT 2020<\/a>. Antigua and Barbuda Prime Minister Gaston Browne issued a statement announcing the joint venture.<\/p>

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The governments of Antigua and Barbuda, Barbados, Dominica, and St. Vincent & The Grenadines jointly own LIAT. Following a constant rise in debt, escalated by the COVID-19 pandemic, the Prime Minister announced that the airline would be liquidated in June 2020<\/p>\n

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Restructuring as LIAT 2020<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

LIAT operated interisland scheduled flights from VC Bird International Airport (ANU), 8 km northeast of the Antiguan capital, St John’s. With a fleet of three\u00a0ATR42-600s<\/a>, the carrier flew to ten destinations on 32 routes.<\/p>

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Photo:\u00a0EQRoy | Shutterstock<\/div>\n<\/div>\n

The airline went into administration in July 2020 and resumed operations later that year under a temporary framework and with a reduced schedule. The shareholding governments agreed to replace it with LIAT 2020, the NewCo, without legacy costs.<\/p>

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The plan to launch the new carrier has been stretched over a long period due to a lack of funds. The Antigua and Barbuda government and Air Peace will invest cash and other assets in LIAT 2020, with the Nigerian carrier acquiring a majority stake.<\/p>\n

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Photo: Embraer<\/div>\n<\/div>\n

The latest developments followed the Antigua and Barbuda Foreign Minister’s visit to Nigeria last month. Minister Chet Greene met with his Nigerian counterpart Geoffrey Onyeama and Air Peace CEO Allen Onyema to discuss their intentions of developing a sustainable airline.<\/p>

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Their mission is to launch an airline that can meet interisland air travel and connectivity demand in the East Caribbean region. The introduction of LIAT 2020 will provide more travel options and reliable air services for passengers and cargo.<\/p>\n

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Flights between Nigeria and the Caribbean<\/h2>\n

Although not all shareholders could come together to finance LIAT, the Antigua and Dominica governments committed to funding the Caribbean carrier. As part of the announcement, Greene highlighted his state’s firm intention to launch LIAT 2020.<\/p>

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Photo:\u00a0EQRoy \/ Shutterstock<\/div>\n<\/div>\n

Air Peace’s Onyema intends to invest in the airline and ensure it is viable and sustainable. Its launch will contribute to socio-economic development in the region. Investments by all parties will bring the possibility of routes beyond the Caribbean and South America.<\/p>

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St John’s (ANU) and\u00a0Lagos Murtala Muhammed Airport (LOS)<\/a>\u00a0are 4,449 mi (7,159 km) apart. However, LIAT’s ATR aircraft have a range of about 970 mi (1,560 km), so the airline may have to invest in longer-range jets before we can see flights between Antigua and Nigeria.<\/p>\n

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Image: GCMap<\/div>\n<\/div>\n

Air Peace is currently working on\u00a0launching flights between Africa and the Caribbean<\/a>\u00a0by the end of the second quarter of 2023. Negotiations between the airline, Africa Export-Import Bank, and Barbados could lead to flights between Barbados and Nigeria.<\/p>\n

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Last year,\u00a0Antigua and Barbuda launched the virtual carrier Antigua Airways<\/a>, which flew for less than three months. It was meant to connect the Caribbean to West Africa, but its failure has led the state to turn to Air Peace.<\/p>\n

What do you think of this story? Let us know in the comments!<\/strong><\/p>\n

Source:\u00a0ch-aviation<\/a><\/p>\n

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The government of Antigua and Barbuda will partner with\u00a0Air Peace\u00a0to revive the Caribbean national carrier LIAT under a new name. Following an agreement between both parties, the privately owned Nigerian airline will acquire a majority stake in\u00a0LIAT 2020. Antigua and Barbuda Prime Minister Gaston Browne issued a statement announcing the joint venture. The governments of […]<\/p>\n","protected":false},"author":3,"featured_media":135934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-173432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nNigeria's Air Peace To Have Majority Stake In Antigua Start-Up Airline LIAT 2020 - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/nigerias-air-peace-to-have-majority-stake-in-antigua-start-up-airline-liat-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria's Air Peace To Have Majority Stake In Antigua Start-Up Airline LIAT 2020\" \/>\n<meta property=\"og:description\" content=\"The government of Antigua and Barbuda will partner with\u00a0Air Peace\u00a0to revive the Caribbean national carrier LIAT under a new name. 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Following an agreement between both parties, the privately owned Nigerian airline will acquire a majority stake in\u00a0LIAT 2020. Antigua and Barbuda Prime Minister Gaston Browne issued a statement announcing the joint venture. 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