Close to US$60 million in unclaimed bank deposits within the Organisation of Eastern Caribbean States (OECS) could be used to help finance a new regional airline, Prime Minister Gaston Browne has proposed.
Speaking during an ABS interview, Browne said the funds — currently held by the Eastern Caribbean Central Bank after remaining dormant for decades — could serve as seed capital for a jointly owned carrier among OECS member states.
“We currently have about, I’d say, close to 60 million US dollars in unclaimed deposits,” Browne said, explaining that the money represents dormant accounts that were eventually remitted to the central bank.
He suggested that instead of leaving the funds idle, OECS governments could pool the resources into a strategic regional project, with air transportation identified as a priority.
“I said to the governor and to my colleague council members that rather than having those funds sitting dormantly within the central bank, that perhaps we need to come together and do a joint project,” Browne said.
Under his proposal, the US$60 million could be used to leverage additional financing, potentially from external partners such as the European Union. Browne indicated that combined funding of up to US$120 million could allow the purchase of five or six new aircraft.
The initiative could either expand LIAT’s fleet or establish a new OECS-branded carrier operating under a shared ownership model among participating states.
Browne has repeatedly argued that reliable regional transportation is essential to economic integration and growth within the Eastern Caribbean, particularly for tourism, trade and cultural exchanges.
He said he plans to advance discussions further when he assumes the chairmanship of the OECS in the coming months.
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The region has more than enough carriers running inefficiently, and not replacing the great operations network formerly provided by LIAT. What our aviation requires is efficiency and cooperation by interlining with each other.
Only Gaston will be this money crazed, no other prime minister or politician talk about money like Gaston do! And they all do better for their countries than Gaston. Where does the monies go that is entrusted to Gaston stewardship, but I don’t think we had a choice, the ALP gang foisted upon us by white foreign interest and the rich Antiguan Syrian family proceeded to execute a state capture all institution of government that should function as a creature of the constitution, the civil servants, police and and judiciary.
We don’t need another airline. A matter of fact, I believe we have to many operating in the region. Singularly and collectively tbey do not even come close to filling the shoes of LIAT pre covid. Pump the money into LIAT and have the government share ownership in the part Antigua own and the private owner can give up a little of their share and still be the majority share holder.
@ I don’t know my name, ⌚, N, and Professor Robinson
Gaston Browne and Chet Greene gave the African who owns Air Peace owns 70% of LIAT 2020 after Antigua and Barbuda took over the debt of $60 million ECC with the Caribbean Development Bank. Subsequently Antigua snd Barbuda pumped in another $20 million.
No academic, No economist, No airline union, no LIAT workers Union, no opposition party questioned how can that be? A deal that makes no sense.
In the mean time, The Prime Minister and The Minister of Barbuda Affairs ignores that today 2nd March all flights by SVG are cancelled.
Last week Barbudans early morning flight out of Barbuda was delayed out of Barbuda until 1:00 pm due to the SVG taking care of a religious group charter flight.
Why wouldn’t the Prime Minister look to get his hands on more cash under the banner of bringing back LIAT into OECS ownership considering his supposedly African majority partner and will be further underwritten by the OECS community.
All of this is taking place while the UPP continues to be obsessed with the Alpha Nero saga.
Were this to happen Gaston wins again with his dubious schemes while Trevor, the UPP, and the expert consultants remain asleep.
Another SCAM It appears the majority shareholder of AIR PEACE ALLEN ONYEMA with 70 % shareholding equity in LIAT(2020) is pulling out.In 2019, the US Department of Justice issued an indictment against Allen Onyema, on the grounds of money laundering and bank fraud. Onyema was accused of falsifying documents used for the purchase of airplanes for Air Peace and using those to fund purchases of luxury cars and high-end shopping. Onyema denies these allegations.
In October 2022, his alleged co-conspirator pleaded guilty and was sentenced to a fine and 3 years probation. Onyema and the Chief Financial Officer of Air Peace remain charged with 36 counts of criminality.
In October 2024, Onyema was additionally charged with two counts of obstructing justice and conspiracy to obstruct justice, due to his alleged falsification of documents used in his defense against the original charges.(FACT CHECK)
GASTON BROWN when you assume the chairmanship of the OECS in the coming months you need to take the 60 million U.S DOLLARS and pay CLICO/BAICO policyholders in the OECS their money also LIAT(1974) LTD workers in ANTIGUA their severance.
I hope the external financing partners such as the EUROPEAN UNION investigate this SCAM.
Same Alp sold out liat route to Puerto Rico to Stanford airlines while Gaston and molwyn was receiving money from Stanford on TV, the ALP liat board at the time sold their fiduciary duties to Stanford which crashed LIAT market and American eagle and eventually Stanford airlines, now Gaston is milking the tax payers in a scheme where he could take monies under a facade of saving LIAT.
What a coincidence with the name ( ALLEN).ALLEN STANFORD who is serving 110 years in a TEXAS PRISON for MONEY LAUNDERING and FRAUD RUNNING A PONZI SCHEME in ANTIGUA, and now ALLEN ONYEMA wanted in the U.S.A for FRAUD and MONEY LAUNDERING.It appears G.B only deal with FRAUDSTERS that have ALLEN as their first name.
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