Barbados Says Yes To Selling LIAT Shares

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Prime Minister Mia Mottley of Barbados has said yes to selling “a significant portion” of Barbados’ shares in Liat to the government of Antigua and Barbuda.

Prime Minister Gaston Browne made the disclosure on his radio programme over the weekend, indicating to listeners that Mottley recently responded to an offer to sell the shares.

Barbados is the largest shareholder government in LIAT.

Browne did not give an exact number but said Mottley indicated that Barbados wanted to retain “at least 10 per cent of its shares.”

“The intent is not to exclude any country from participating in LIAT. In fact, as far as practicable we would want to broaden the shareholding in LIAT,” the prime minister said.

He added that he was “quite happy that they will maintain a shareholding position.”

A negotiating team has been established to include MP’s Lennox Weston and Sir Robin Yearwood as well as a representative from the ministry of finance.

Barbados is also expected to name a negotiating team.

Antigua proposes to take on Barbados’ liability at the Caribbean Development Bank related to a LIAT loan in exchange for the shares.

He said the decision was in the best interest of the economy.

 

 

8 COMMENTS

  1. So, who is the PM now going to impose a windfall tax upon to pay for our newfound liability in supporting our increased shares in LIAT? More shares means we pay more of the airline costs. The banks and insurance companies are already to pay a new windfall tax to pay for the PM’s university. Will the car dealers or the shipping companies or the accounting firms bear the burden of a new windfall tax by the PM to pay for LIAT? My Lord.

  2. AND IN COMES ANTIGUA’S KNIGHT IN SHINING ARMOR. .. We are barely floating and we just keep placing more on our backs to take us under. GASTON WE CANNOT AFFORD YOUR EGO TRIPS. GET IT TOGETHER

  3. DELILAH vs THE SAMPSON’S

    Though she may not have exploited their intellect by expressing ‘…financial doom on LIAT,’ Prime Minister Mia Motley, may be likened to a ‘…Delilah among two Sampson’s.’

    Maintaining her nation’s position disguised by ‘…deafening silence and hesitation’ on the fate of LIAT, with not much hair on her head to cut, she allowed them to cut her nation’s’…Share and financial burden of the debt-ridden airline.’

  4. Antigua proposes to take on Barbados’ liability at the Caribbean Development Bank related to a LIAT loan in exchange for the shares. “Congratulations PM TOP DAWG” Now tell your citizens what are the liabilities and the dark hole the tax payers of this broke country will have to pay for Barbados shares. The ALP track record on paying debts is not a good one, so I will sit in my rocking chair and watch this genius move. I am wondering if a new Allen Stanford will take over LIAT or it’s Branson. Buying of Barbados shares, UWI 4th landed campus, Scotiabank assets, New airport runway Barbuda, Global Ports, Two major highways unfinished for the pass four years, with over 450 million deficit and 4.5 billion in debts. The top dawg will wave his magic wand and it will all disappear. Antiguans and Barbudans brace yourselves the road ahead will not be easy.

  5. Everybody worried about how Gaston pay for these shares but if LIAT is in such dire straits what are they actually worth?

  6. How much is the liability the PM acquired from Barbados?

    What is the dollar value of LIAT as is?

    History in the making 1972 now 2019…..

  7. The Baldwin Spencer administration had allowed Barbados to become the majority shareholder government in LIAT and now Gaston Brown is taking that back. We should understand that Antigua then was not in a position of strength when they lost the majority share and likewise now Barbados is not in a position of strength. As they are in the arms of the IMF. And behind the scene the IMF may have made certain demands and certain benchmarks for them to reach. They have already laid off thousands of public sector workers. Something they could not get Antigua to do, not under the UPP nor under the ABLP.
    I have to put my trust in the PM when he is taking o this burden. Just like when he took on the ABI Bank burden of $300 million dollars.
    I mean given the financial position LIAT is in the shares should be worth nothing. But looking at future earnings potentials may change that.

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