The Caribbean Development Bank is backing efforts to boost intra-regional travel after the collapse of LIAT 1974.
Though the bank has not commented on talks it is holding with the Antigua and Barbuda government about LIAT 2020, CDB’s acting President Isaac Solomon told a press conference in Barbados that air transport was “critical” for the region’s development.
Over the weekend, Antiguan Prime Minister Gaston Browne announced that negotiations between CDB and the government over the sale of aircraft had concluded, and that all governments with shares in LIAT have agreed to sell them to LIAT 2020.
Mr. Solomon said CDB is willing to provide assistance in resolving the air transportation limitations affecting the Caribbean.
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Here is a venerable regional institution the Caribbean Development Bank issuing a weak, watered-down, insipid statement. What is the point or objective?
Sounds like a statement issued after being pressured by Gaston Browne; to support his ill fated attempt to get LIAT 2020 owned by Air Peace, at Antigua and Barbuda’s expense.
And the media is in deep slumber
Its a mess thank to the PM, LIAT (2020) was registered Oct/2020, what have they been doing for 3.5 years? NOTHING, hoping their “black knight” Air Peace will save them! meanwhile Air Peace has 16+/- jets grounded since 2020! 1/of the fleet? you think AA or DL would have 1/3 of fleet grounded. The Niara has collapsed vs the USD on January 1, 2024, Air Peace and many other Nigerian carriers will struggle to find $ to pay for aircraft leases, MRO, spares, training, Bankruptcy is coming to many. Air Peace is not a strategic partner for the long term, money frozen in Nigeria and the USA (FBI issue) PM’s fantasy and ignorance of the airline scene in the Caribbean and Africa. Air Peace launched many routes and quickly pulled out. Only good African airlines are Ethiopian Royal Maroc, Airlink and a few smaller one’s in South Africa, the rest? shit show like LIAT and Air Peace, 1+1 = 0, IF LIAT could not make profits in 50 years with a near monopoly, how can it make a profit now when it has 1 operating 48 seat ATR-42 and 2 needs $8M in maintenance VERSUS CAL with 10 68 seat ATR-72-600+ 4 to come, 9 x B737-Max8 + 3 to come, AND Inter-Caribbean with 3 x 48 seat ATR-42-500 + 3??, 1 x 68 seat ATR-72-500, 3 x ERJ-145 50 seater jets.
You are being duped by your PM that LIAT will be a success, NOTHING has changed, same aircraft, same routes, same old name, same bad brand, you have to be stupid to think anything will change doing the same things over and over again! YOUR MONEY that is going down the drain for a VANITY airline, of the PM, I seen many of those go bust!
OK, how much were the other shareholders of Liat 1974 paid for their shares….?
@ Point,
Here is the answer to your question.
LIAT 1974 filed for bankruptcy liquidation, not reorganization.
All Shareholders were wiped out.
In such as Bankruptcy the workers owed are entitled what ever money can be obtained from selling the assets of the company LIAT (1974)
The unions are being offered 30 cents on the dollar.
The only reason why CDB is getting paid; they are making a new loan on the 2 planes for which they are owed by LIAT (1974)
The bankruptcy process designed for LIAT (1974) by Cutie Benjamin, placed debtors ahead of workers.
That is highly unlikely and unheard of.
It speaks to how poor working people are treated; and even their unions aren’t able to protect their interests.
What is not clear is: what is AirPeace bringing to the table besides their two planes to justify getting 70 % of LIAT (2020)
These are the types of questions UPP should have been asking and demanding answers; and not walking up and down in the sun after the fact in the Medical Center.
Real countries with real laws; and a functioning Opposition Party would stand up and ask questions and demand answers to this and many other issues.
Gaston Browne knows very well politics in Antigua and Barbuda is not about leadership with and of ideas and solutions, for a better country.
He knows we remain in post colonial politics. He also knows he is better at political performance art (empty talk and promises) than any other on the political stage.
For his own aggrandizement Gaston Browne wants to take credit that he saved LIAT and air transportation in the Eastern Caribbean. To do so; he is giving away the store to Air Peace; and each of you will pay for his ego.
It is funny that soon as some Antiguans leave Antitgua they become expert in everything. And Antigua is not a real country.
But they sing the praises of where ever they go to, while a white police force a night stick up their rear end and ask them “O say can you sing”.
Given this deal makes no sense whatsoever.
It begs the question is Air Peace a “nominee shareholder”? As a nominee shareholder for some the 70% means that some of Air Peace 70% of reported ownership belong to others.
Does Air Peace hold shares of stock in the company LIAT(2020) on behalf of another person or company?
Its a mess thank to the PM, LIAT (2020) was registered Oct/2020, what have they been doing for 3.5 years? NOTHING, hoping their “black knight” Air Peace will save them! meanwhile Air Peace has 16+/- jets grounded since 2020! 1/of the fleet? you think AA or DL would have 1/3 of fleet grounded. The Niara has collapsed vs the USD on January 1, 2024, Air Peace and many other Nigerian carriers will struggle to find $ to pay for aircraft leases, MRO, spares, training, Bankruptcy is coming to many. Air Peace is not a strategic partner for the long term, money frozen in Nigeria and the USA (FBI issue) PM’s fantasy and ignorance of the airline scene in the Caribbean and Africa. Air Peace launched many routes and quickly pulled out. Only good African airlines are Ethiopian Royal Maroc, Airlink and a few smaller one’s in South Africa, the rest? shit show like LIAT and Air Peace, 1+1 = 0, IF LIAT could not make profits in 50 years with a near monopoly, how can it make a profit now when it has 1 operating 48 seat ATR-42 and 2 needs $8M in maintenance VERSUS CAL with 10 68 seat ATR-72-600+ 4 to come, 9 x B737-Max8 + 3 to come, AND Inter-Caribbean with 3 x 48 seat ATR-42-500 + 3??, 1 x 68 seat ATR-72-500, 3 x ERJ-145 50 seater jets.
You are being duped by your PM that LIAT will be a success, NOTHING has changed, same aircraft, same routes, same old name, same bad brand, you have to be stupid to think anything will change doing the same things over and over again! YOUR MONEY that is going down the drain for a VANITY airline, of the PM, I seen many of those go bust!
I worked on the CDB backed new airline last summer, that had potential! nothing like having a development bank behind an airline for funding, financial control and a board of Directors that understand finance and economics and NO politicians or pretending airline CEO’s.
For 3.5 years PM Browne talked and talked and talked, and held back employee reimbursements, shameful leadership! Now everything is a rush, they have flown 1 ATR for 2 years now, and the same will continue till at least September, a 1 airplane airline for 3+ years is a joke, the good people of the EC don’t give a ship about LIAT, its gone in their minds, they now are used to CAL and Inter-Caribbean, LIAT is a negative brand and its services will be dismal compared to what CAL and Inter-Caribbean will provide with 18 ATR aircraft between them vs 1, maybe 2 and one day 3 ATR’s at LIAT? Air Peace? where is it? 16 aircraft grounded for 2 years in Nigeria? for smart people that is RED FLAG and now the devaluation of the Niara in the last year threatens the entire Nigerian airline industry, no one has been making a profit there! they don’t use numbers other than revenue, but that says nothing revenue can grow 10% in a year but if costs grow 18%? A mess, LIAT and Air Pewace are 2 perfect partners, both a mess 1 + 1 =0.
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