Gonsalves offers Antigua SVG’s LIAT shares for EC$1

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Prime Minister of St. Vincent and the Grenadines, Ralph Gonsalves, has offered to sell his country’s shares in LIAT to Antigua for EC$1.

“I don’t want to stop Antigua and Barbuda wanting to do what they want to do,” Gonsalves, who is chair of the shareholder governments, said on WE FM on Sunday as he spoke about the EC$1 offer, which he said he had made to Browne.

The offer includes Antigua and Barbuda paying Kingstown the value of the debt that the Gonsalves government guaranteed during LIAT’s re-fleeting exercise, which was conducted a few years ago.

“… the debt which we guarantee on the three planes at the CDB (Caribbean Development Bank), let’s value the planes and the amount of money which we owe the CBD on these planes, pay me that and I get out of it (LIAT) and you do what you want to do.”

 

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17 COMMENTS

  1. Smart man. Walk away from all liability related to LIAT including debt guarantees and severance pay in exchange for $1.00. Lucky man if his offer is accepted.

  2. If barbados offers the same thing we will have to pony up 94 million to workers plus the debt for the planes we holding. You looking at about 150 million before this thing off the ground.

    • Why you think Gaston went to parliament and pass that bill? Gaston was thinking ahead. Watch out for the next matrix move by PM Brown. He’s got some cards up his sleeves.

  3. Holding on to the planes.What turns on that? All Barbados and St.Vincent have to do.Wait until those Aircraft land some where.Get a Court order move in and confiscate them.

  4. Still not hearing about the over 11 million collected from tickets sales while liat wasn’t flying who is responsible for this money headquarters i presumed one thing i want to remind who’s responsible it’s the people hard earned money the same people that was traveling on liat year in and year out going Vincy mass and then Lucian mass or just home to spend some time with love ones.

  5. The PM of Antigua, Is the worse leader the Caribbean have ever had. Who for a Prime Minister behave the way Brown is behaving when dealing with other leaders of the Caribbean, especially when they are much more intellectually smarter than he is. Liat is of paramount importance the the region, and right now we are suffering because it is grounded. If PM Brown wanted to convince and encourage the other share holders to give Liat one more try, he should have used a more diplomatic approach.

    Liat is in the position it is in because of gross mismanagement in Antigua. If more money is spent on Liat the same thing will continue to happen, unless house is cleaned in Antigua. If the head quarters remain in Antigua nothing will change. I hope that given the current state of Liat and the nasty attitude of Mr. Brown, PM Mottley will not put one cent of Barbadian Tax monies in Liat.

    • You don’t sound like one of us, I think you should try nation news barbados or Barbados today for those remarks. Be gone.

  6. I think all governments in the region should leave the airline business regulate but do not own the airline reinvesting in a new LIAT will not solve the problem lowering taxes alone will not solve the problem. When you have prime ministers in the Caribbean being able to call for additional routes that aren’t profitable that’s the problem. When you have persons that only wants to keep the airline afloat because severance would be too high that’s the problem. When you have pilots and crew paid some of the highest salaries compared to other airlines that’s the problem. When liat can be used to hire staff to win an election instead of streamlining operations that’s the problem. When we have our prime minister not having manners and having all negotiation in the public to win public support that’s the problem. Instead of investing money in liat let’s utilizes the privately owned airlines. Invest the money in diversifying the economy and stay out the airline business utilized caricom as the body to negotiate what is expected of the industry in the region and develop benchmark LIAT is not a political tool and our leaders need to acknowledge this and move on. So in summary get out of the airline business , regulate and set benchmarks, use the money that you were going to invest in a new liat to diversify markets and industries within your country which will in turn create jobs and focus on sustainability

  7. I wish Barbados would do the same thing. If you do not want to be in it just surrender your shares for $1.00
    Antigua will fix it. Gaston Browne can do it. He has proven it with the ABIB Bank. The liability there was over $300million. He struck a deal with the depositors that they cannot take out their money for the next 10 years but he will give them interest on their monies. It was that or you let the bank fold up and you lose your money. Liat creditors will face the same thing. If LIAT folds you’ll get 10ct on the dollars, but if you hold on for a couple of years you’ll get all. Mia should have accepted Antigua’s offer and then they would not be in this lose lose position. She has he IMF to deal with.

  8. Gonsalves, despite his lengthy sojourn among us, despite his talking the talk and walking the walk is NOT, NEVER was and WILL NEVER BE one of US. And now as the dusk falls on his unnessarily long control at the helm of St. Vincent’s political life and history, the true and naked face of the ape is clearly visible. Age has set in and even he cannot reverse the inevitable. Sadly, just watch, just listen. It will get even worse!!! “Early” signs of dementia?

  9. Antigua PM is absolutely correct in his stance and vision to save LIAT. He is the most visionary Caribbean and forward thinking Leader in modern times…. Right thinking Caribbean people respect him highly….

    • I agree with you 200%
      Time and time again I am amaze to see what rabbit he will pull out of the hat again. Always thinking outside the box. And that is his life long story.

  10. This is a sad saga.. LIAT in my opinion has come to the end of its shelf life. I understand that it has served the Caribbean well over the years. But it has been run like a government ministry .. miss managed and abused. Its poor reliability and now colossal debt is like a very short chain with an anchor around the necks each share holder government financial purse. As hard as it might feel to many in the interest of viable Caribbean airlift ..I support ending LIAT and moving towards private air lift alternatives .. Governments can work together to build in mechanisms for any private alternative to ensure each country is adequately serviced ..

    Now on PM Brown’s verbal meltdown to his Caribbean counterparts.. I am ashamed for him.. it was in absolute poor taste. I am quite happy that PMs Montley and Gonsalves did not get down into the gutter with him in any response.

    • Verbal what meltdown, Some of y’all just downright Jealous of the man and his ability…You should be ashamed of yourself instead.

  11. I agree with you 200%
    Time and time again I am amaze to see what rabbit he will pull out of the hat again. Always thinking outside the box. And that is his life long story.

  12. @FROM THE SIDELINE

    Totally in agreement with you. Hon. Gaston Browne …The forward THINKER.

  13. CREATIVE MIND
    LIAT’S name will change to Antigua
    and Barbuda’s Airline. It will be flighting us to NY and others other far places. The youths of Antigua and Barbuda will one day thank you PM Browne.

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