Investors Come Forward To Invest Millions In LIAT- PM

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LIAT’s administrator is considering proposals for private and government investment in LIAT, Prime Minister Gaston Browne has said.

“There are several proposals on the table from private entities. There is one entity that has offered a US$25 million investment for 51 per cent of the shares,” the Prime Minister told Pointe Fm.

“There’s another regional airline that has offered to invest about US$25 million and a few planes for about 60 per cent of the shares in LIAT.

“And there are at least three governments that have shown some interest in investing in LIAT, so there are some prospects that the Administrator is pursuing. And we believe that ultimately, on the basis that the Administrator is successful in getting the cooperation of creditors, that LIAT will be organized and be back in the air to take its pole position, to continue to be the number one carrier within the Caribbean region,” Browne added.

 

45 COMMENTS

    • If it is Calvin Ayer making the investment we should rejoice as Antiguans and Babudans as he has demonstrated by now to be one of us. Lives among us and has donated more than many born Antiguans and Barbudans do for this country. Especially now during the Covid period.

  1. Mr PM what about the routes, moreso landing rights to the more profitable routes. How that looking with the rift that has seemingly emerged with Bimshire?

  2. Is it normal for pieces of information to be ‘leaked’ when an ‘independent’ administrator is conducting an audit and preparing a complete feasibility report of a business?

    Hoping those potential investors come to the table understanding the monies owed to staff & ticket holders & suppliers need to be paid in full to begin to rebuild trust in the brand.

  3. Sometimes Gaston Browne flaps his gums too damn much.There is an LIAT Administrator appointed by the Court.To take care of LIAT’S daily business.Which includes paying all liabilities and secure the assets of said Corporation.Now you have Gaston Browne running of his mouth.When happens if none of those so called promises come to fruition.Then what?When I told you that Gaston Browne likes to pat himself on the back.The man is a narcissist.He is always looking for excessive attention and admiration.

  4. And what happens if the plans do come to fruition. You people are so hate-infestered that the nation’s glass will always be for you half empty.

  5. … Mr Browne is VERY UNPROFESSIONAL AS ALWAYS. His radio station is a private business and matters if importance and the country’s business should not be discussed on it.

  6. @ BLACK MAN
    Why don’t you SHUT your BIG mouth. You don’t live on Antigua but You FLAP your CHOPS all the time. Try and make sense . I believe that you’re in Love with our Prime Minister. You oppose everything the Prime Minister does. Stay where you are and enjoy uour WEALTH as you mentioned before.

    • M.PETERSON:A ANTIGUA ME BARN.A DEY ME NAVEL TRING BURY.DO YOU WANT ME TO GO TO ST.KITTS AND SPEAK OUT?I SAY NO.BECAUSE ME NO BARN DEY.NONE A ARE YOU RED KOOL-AID DRINKERS A GO TAP ME.Just hoping my dialect was fully understood by all.I am in Antigua 2 times per year.Because a dey me BARN.No one could stop me from coming there.Not even Gaston Browne.I love women all the way.I had many in my day in Antigua.None of them made rice pudding, BO BOY.

  7. BLACK-MAN you are so correct it seems as if Gaston Browne is the de facto Administrator of LIAT 1974 Limited. He is Seaforth ‘s assistant.

    • You will never have something good to say abut Gaston. But that is OK. You think the receiver will ever come to the public to let us know how things are going? No he wouldn’t. He is not a public servant and is not appointed by the government. He is appointed by the court. And his reporting is to the court and the shareholder if and when he feels like. The PM like always is being transparent as he gives us information that is not considered confidential at the moment. But you see if he doesn’t say anything you guys will say there is so much secrecy and when he does you say he talks to much. What is it you guys want anyway

    • @Charles Tabor; damned, if you do! Damned, yet still if you don’t.
      Gaston Browne, PM is making a valiant effort to save LIAT, not for ABLP, but for Antigua, Barbuda & Redonda.
      By now, all of Us rich Antiguans & Barbudans, should be clamoring, to invest in LIAT! No? Or, are we too scared to show some collective unity for Nation and Country!

  8. There is absolutely no way that LIAT can be resurrected if redundant staff, Government and other Loans, and high Government Taxes of travel remain on Inter Island Travel. This is a Liquidation. The game changes. The rules are new. Other airlines have filled in.

  9. Maybe Browne and the Administrator in cahoots but just saying looking at things outside the box would you invest US25 million in LIAT and keep it headquarters in Antigua and with Browne in charge i don’t think so his main aim is to keep LIAT alive but headquartered in Antigua witch i think is the problem in getting serious investors to come on board I’m keeping my fingers crossed but not holding my breath for LIAT.

  10. Gaston (PM Bozo the Clown) seems much more concerned about LIAT than he does about the Antiguans without running water.

    I’d guess he stands to personally profit somehow

    • Perhaps the news has not reached you, but the government has ordered yet two other RO Plants. And since coming to office they have bought and installed three already to take care of the water problem that keeps on being a moving target. But I guess you believe the government should be single focus dealing with one issue at the time. Sorry to bust your bubble. This is a government that can walk and chew gum as we say.
      Dealing with a multitude of issues simultaneously. That is what separates them from the UPP.

  11. Oh gosh jack! At least the PM is trying whether he wants a piece of the pie or not. If he was’t even lifting a finger to help perhaps the shout would have been ‘Gaston Browne’ not trying to help. LIAT has been around for so long. I wouldn’t want it to see it just dissipate.

  12. A private entity with 25 million and 51 percent of the shares🤣🤣🤣🤣

    Say it with me

    C A L V I N A Y R D‼️

  13. By the way since when US$25 million represents 51% of the shares of LIAT. Mr. Prime Minister or Administrator Seafotth what is the par value of a LIAT share.

    • Are you that dumb to know that the shares presently have no value. The company is bankrupt. That is why Barbados and St.Vincent are giving away their share for $1.00 to Antigua.

      • From The Sideline so if the shares have no value, did Gaston Browne or the Administrator Seaforth arbitrarily decided that US$25 million is tantamount to 51% shares in LIAT. I am not a financial wizard like you so please enlighten me how the computation was arrived at. Are Gaston Browne and Seaforth making decisions we are not aware of?

        • Tabor,
          Were you advising UPP before 2014? All of a sudden the former Upp administration, acting like they know how to solve problems when they were major contributor to the problems in the first place…..
          we know who y’all are.

        • Dummy here you go again. The PM never decided what the value was. He simply stated what the offer was. The investor made a proposal for 51% of the company for $25mln.
          And have you heard of the term NPV. That is the Net Present Value.
          Something my not be worth anything today but its future value tells you it would be worth a whole lot more in lets say 10 or 20 years. Therefore you do not sell it at the value it is now you sell it at the NPV with a discount rate. Things I cannot explain to you so quickly and easy. I really do not want to insult you but you are way out of your league.

          • From The SIDELINE I defer to your financial wizardry. So the prospective investors of LIAT have calculated already the NPV of their investment. NPV is based on future cash flows. It would be interesting to see the projected future cash flows in the reorganized LIAT. Maybe you should assist the government in that regard.

  14. @Charles Tabor. Here you go again. The government is not the one running the LIAT show at the moment it is the Administrator and believe me Cleaveland is much more qualified then me to do that. And if not he has a backing of worldwide renowned firm called BDO. And when it comes to the government you seem to forget that our PM is a financial whiz. Forgot how he purchased WIOC without having a dime. He has been invited worldwide to speak on economic topics and strategies. Baldwin could never stand in his shoes. That is why Liat is now on life support and not dead as Barbados and St. Vincent could not see a way out. Within a week he put together a new projection for LIAT. But you will learn while the PM moves on you can wish him all ills in secret.

    • From the SIdeline come on you appear to me much smarter than that, do you really think that the Administrator of LIAT, Cleaveland Seaforth, is managing the affairs of LIAT without the constant intervention of Gaston Browne. Gaston is the de facto Administrator. Also, he should stop speaking for LIAT and allow the Administrator to do so.

      • Listen perhaps you like to believe in conspiracy theories. That is good for you. But as a professional I know my friend Cleaveland has integrity. Much more than I can say of you. Sorry to put it so blunt, but since you make those insinuations I must come to his defense. When the court appointed the Stanford Receivers and the former workers requested the PM to intervene, the minute he made a statement the receivers responded to let him know that they do not report to him. Whether you want to believe it or not, and I believe as an officer of the court you should, there is a separation of powers in this country. And when the court issues it’s power the executive cannot override it. I know when Baldwin was in power he once said to a court ruling to place back Sir Gerald in his position. He said the hell with the court and non of you told him that was very wrong. And sadly Sir Gerald took his case all the way to the Privy Council and won, costing the government lots of money. But as I said you are a political hack and would never comment on those things. But I still believe in the decency of some people and don’t spread conspiracy theories all over the place when I should know better. Just like you said, Gaston cannot send police to lock up no body, but in the same breath he can order the military to intervene if there if no law and order being exercise. Like after the hurricane when he ordered ALL Barbudans to vacate the Island and some wanted to test his authority he had to send the military to take them out.

  15. From The Sideline you just go around in circles with your narrative. The Stanford Receivers knew their authority and put Gaston in his place when he tried to intervene. With all the integrity your friend Cleveland has, I will not hold my breath waiting for him to put Gaston in his place like the Stanford Receivers. You need to educate your friend Gaston about the Seperation of Powers between the Executivs, Legislature and Judiciary not me since he does not appear to appreciate or understand that fundamental principle in a democratic society. When Sir Gerald said to hell with the Constitution of course he was quite wrong to say that particularly being a lawyer. Anyhow, I do not know what that has to do with me and in fact I was living outside of Antigua at the time.

    • And you seem to confuse the fact that I was stating. Baldwin Spencer said “To Hell with the Court not the Constitution. I never heard my friend Sir Gerald made such a statement. And I don’t think he will ever say that.
      And furthermore it was also Baldwin that said and pursued to lockup Asot Michael and Sir Lester Bird. Even instructed the police to raid his house. And what about when he send police to the Hadeed Electricity Plant to prevent them from off loading a generator. All these illegal actions cost the tax payers dearly. But you had nothing to say then. Blatant abuse of power.

  16. And what is the reason that you think so low of Mr. Seaforth. Could it be because of the color of his skin? Just wondering. And again Gaston was only trying on behalf of the Stanford workers to bring over a message to the receivers to start paying the staff. Some way I guess the LIAT workers will seek his assistance when they too will understand that severance will not be coming anytime soon. It took great risk for him to do that knowing that he doesn’t have any cloud over the receivers. But as he heard the plea of the many workers, they still feel that had he not written to the receivers nothing would have happened at all.
    And Gaston needs no educations when it comes to that. Note who went to parliament to pass this law in order to give LIAT a lifeline. And this was not supported by the UPP who could not see the wisdom in this. All the complained was that the bill was passed to fast and they had no time to read it. When time was so precious as Barbados and St. Vincent were held bend to file for bankruptcy. So if he passed the law he more than anyone else knows that things will be out of his hands for now. But at east LIAT will have a last change of survival. And please do not insult my friend Seaforth because of your inconceivable political motives. A man’s skin color does not represent his integrity. I expect this kind of thinking to come from my Caucasian friends not from another black person. That is the same mindset that was used not to vote for the CCJ but rather stay with the ‘WHITE” Privy Council who has not done one thing to improve our judicial system over all these years.

  17. From The Sideline I had a very long response to your comment but ANR was having problems so it was not printed. Anyway, in short I wish to say that you your comment that a man’s skin color does not represent his integrity could not be directed at me. As far as I am aware Seaforth is a Black man and when it comes to the Black race I am at the forefront defending our race. I never challenged Seaforth’s competence, professionalism or integrity. As the Administrator of LIAT he is given a job that he is eminently qualified to undertake.

    • “The Stanford Receivers knew their authority and put Gaston in his place when he tried to intervene. With all the integrity your friend Cleveland has, I will not hold my breath waiting for him to put Gaston in his place like the Stanford Receivers.”
      This are your words about Mr. Seaforth. Not about Gaston Browne. So you say one thing but mean something else. Sad

  18. Who I question is Gaston Browne and his penchant for immersing himself in everything. Seaforth has his work to do and Gaston Browne should stay out of it.

    • and have you seen Gaston mingling in Seaforth’s manner in which he is dealing with the operation. As I said those comments you should have leveled at Baldwin Spencer. And I gave you many examples where he did try to influence the police and said to Hell with the court after they ruled for Sir Gerald to get back his position at ABEC. He even caused the GG to commit an offense since she refused to re-state him. And what did Baldwin do. He went to parliament to pass a law that made Sir Gerald to old to serve in ABEC. A law specifically drafted to remove Sir Gerald from ABEC. And that cost the country millions of dollars to pay Sir Gerald. Monies we do not have. And that was just one case. I could name many more cases, such as the Hadeed Power Plant case, The Half Moon Bay Case. Going after Lester Bird and Asot Michael and the list goes on. The UPP has cost this country at least one billion in lost court cases.

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