The government says it has told Barbados of its desire to acquire its shares in LIAT.
The Minister of Aviation and the Minister of State in the Ministry of Finance reported on the very important meeting held with the shareholders of LIAT, at the airline’s headquarters at Coolidge on Tuesday.
The Antigua and Barbuda offer, to purchase the shares of LIAT owned by Barbados, was among several issues raised by Antigua and Barbuda’s representatives to the meeting.
Since the Barbados representative was not the Prime Minister of that country, it was agreed that this development would be conveyed to the Honourable Mia Mottley and a response would shortly be forthcoming.
No further details on the actual offer were provided.
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And where is GOAB assuming to get the funds for such a purchase since it made clear in 2017 it did not have the money to maintain the country after hurricane Irma hit ????…. mmmmmm..😏😏
I guess from borrowing.
Oh gosh, there you go asking another sensible question.
Didn’t PM Motley state that she had no more money to invest in LIAT and that she would sell her shares if an investor was found for $1? She said Barbados never set out to own an airline and that she wants out and must find an investor to buy her shares. Did any one else here her say that?
This is a BRILLIANT move by our Prime Minister to purchase all Barbados shares in LIAT. Gaston Browne is
the most competent Prime Minister in the Caribbean. He is a man with VISIONS.
Well well Mr. PM you sure do not fail to surprise me every time and time again. I never saw this one coming. After you bought WIOC without borrowing a dollar from the Treasury I thought I saw it all. You sure have a lot up your sleeves. You sure will be a topic to study at UWI Economic Finance and Business studies. Where you get all this ideas from? I’m sure Mia and Gonsalves are both baffled. She will only say no out of spite that she would lose face with her people, cause not even Peter would want her to sell.
The PM is so clever but can we say the same for Mr. Hurst. Now Ms. Motley knows the plan. Maybe she will start her own negotiations.
Purchasing and holding the majority shares in LIAT is not a sound economical idea.
The only reason the PM would be interested in doing this is to safe guard 700 jobs.
Holding majority shares means holding majority of liability.
Knowing the MO of the ABLP these shares will be turned over to a private investor and ANU retains a minority share.
LIAT will never be profitable. It requires constant subventions for the bottomless pit expenditure.
Sandals with their deep pockets thought owning an airline could greatly improve their product and they quickly gave it back to the government and where is air Jamaica today?
Liat’s solution: Stop treating LIAT like they treat UWI. All CARICOM countries should pay into LIAT an annual subvention. Accountability and centralising management and management functions.
You cannot borrow money from the Treasury, it is not a bank nor does it have the necessary instruments to provide credit. No wonder you are impressed despite being in debt up to our noses to China and CDB
Here are some ideas for courses at UWI:-
1- pensioners getting paid months late 101
2- Overtime and back pay owed to public servants for years
3- mismanage aid grants to build back Barbuda -with Dominica as a comparative study
4- Selling passports and citizenship for peanut change and still struggle financially
5- Building roads onto perpetuity- with 200 million dollars in grant money
6- Surviving on weekly Water shortages and electricity power outages in a modern society.
7- Defaulting on payments to local and international contractors
8- invest 6 million dollars on useless e-books devices that have no ebook content
9- A study in creative enrichment- a pseudonym for granting yourself no bid government contracts and competing with the private sector at a clear advantage.
I can think of a lot more courses but I shall wait until the UWI campus at 5 Islands is operational.
Careful your own bitterness don’t swallow you up. Go make peace with your daddy before you take your last breathe.
Hebrews 9:27
A possible problem with LIAT is that it is comprised of too many owners in partnership. If one country (possibly Antigua) can afford to acquire LIAT and run it as its National Airline, the results might just be successful. Furthermore, merging with an international airline would be a good idea, and might even be feasible, given that as reported, Mr Bronson of Virgins Group has stated some interest in the beleaguered airline. It’s worth a try.
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