Prime Minister Gaston Browne announced on Friday a significant financial commitment of $30 million in the 2024 budget to breathe new life into LIAT 2020 Ltd, marking a pivotal moment in the effort to revive the beleaguered airline.
LIAT, a longstanding pillar of Caribbean aviation, faced a myriad of challenges in 2023, including the aftermath of the hurricane season, unserviceable aircraft, unresolved issues with former workers, financial constraints, and staff attrition.
Despite these hurdles, LIAT 1974 Ltd managed to operate a limited schedule, ensuring crucial connectivity across destinations with a dedicated team of 167 staff.
Prime Minister Gaston Browne emphasized the government’s unwavering commitment to restructuring and resurrecting LIAT, recognizing its historical significance in weaving the fabric of Caribbean connectivity.
The vision extends beyond national borders, with several regional governments expressing interest in partnering with Antigua and Barbuda to contribute to the revival of LIAT.
He said, Key to the successful resurrection is the involvement of the Caribbean Development Bank, which will play a pivotal role in solidifying the partnership and arrangements among regional governments.
The collaborative effort aims to pave the way for finalizing an agreement with Air Peace, a crucial step towards the recommencement of LIAT 2020 operations.
“In 2024, the Government will allocate $30 million to ensure LIAT 2020 Ltd has all the necessary aircraft and the appropriate maintenance and operational arrangements in place. Our goal is to establish a foundation for the safe, reliable, and efficient delivery of services to the people of the region,” stated Prime Minister Gaston Browne.
The substantial financial injection underscores the government’s dedication to overcoming the challenges faced by LIAT and reaffirms its commitment to restoring a vital lifeline for regional travel.
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This is all political theater.
How about having the Bankruptcy Judge and the Reciever report what the hell is going on with the Bankruptcy filing of LIAT 1974.
Has the creditor committees accept what is being proposed?
AirPeace was supposed to be here with a 70% ownership of LIAT. It was supposed to be in September after Carnival, then October, November and last told it will be December.
Obviously w is not happening.
What’s being promised is a$30 million investment into LIAT by GOAB. No mention if with the $30 million of Antigua and Barbuda people money if AirPeace will still have a controlling stake at 70%
No details given on the Caribbean Development Bank pivotal role.
UPPs where are you? Tune to step up to the crease and bat like you are in the game.
How much has been allocated for the upkeep of the Alpha “Nargo”? Not a word on that.
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