Trinidad PM: No plans to take over LIAT

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(LOOPTT)

As of now, Government has no plans to take over inter-island airline service LIAT or its routes even as the regional carrier faces liquidation and restructuring.

The future of LIAT, which as of April this year was more than EC$100 million in debt, remains uncertain.

Prime Minister Dr Keith Rowley at a media conference on Monday indicated that T&T has no involvement in LIAT nor are there plans to get involved that arrangement.

He noted that the Government of Barbados speaks on T&T’s behalf in the matter as Government allowed its Barbadian counterparts to use, by proxy, the six percent shares as a residual it held.

“So the Government of Barbados is responsible for speaking for Trinidad and Tobago with respect to that six percent of the shares. We are not involved at all in the LIAT business and as of now, we have no plans to get involved in the LIAT arrangement.”

“LIAT is owned by other CARICOM territories and with the blessings of Trinidad and Tobago. LIAT being an airline, CAL being an airline, CAL having some overlap with LIAT services we are all in the same market and the Government of Trinidad and Tobago would leave that for Caribbean Airlines to protect the interest of the company and the people of Trinidad and Tobago while serving the region.”

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6 COMMENTS

  1. No surprise there! T&T was never a shareholder in LIAT anyway. Note however, the speed in which T&T’s Caribbean Airlines CAL swooped down to fill the void created by a used, abused and kicked to the curb LIAT. BTW, Isn’t this the same airline that was in the news recently accused of gouging the eyes out of persons who found themselves stranded in other lands following covid-19 airport closures? This is the hunting season, my friend. Beware! Cannibals smell blood and are moving in for the kill.

    • Barbados therefore has more than forty nine % shares. Along with Trinidad’s six they have fifty five plus % of shares. It leaves Mia Mottley in a more dominant position than originally thought . Browne screaming his head off means absolutely nothing. No decisions can be made unless Barbados agrees.

  2. I don’t understand how or why the moderators of ANR would/could allow another blogger, a new blogger, to use the name Anon just to create confusion. I, the original Anon, not the pseudo blogger of the pro T&T/Barbados fraudsters, will continue to use Anon but readers should be able to differentiate between the two. The original Anon is 100% Antigua who recognizes and appreciates good governance. Hence I have little patience with the UPP performers and our Caribbean stooges who have no respect for Caribbean people, our past, present or future.

  3. The fact of the matter is that PM Browne is not screaming his head off. PM Browne is content to see LIAT 1974 die, provided he can get support for LIAT 2020. But, LIAT 1974 Majority Shareholders have no interest in participating in a LIAT 2020.

    PM Browne is not prepared to spend one penny to save LIAT 1974. I think he will be content to see LIAT 1974 liquidate. So, it appears to me that there is near 100% support for LIAT 1974 liquidation.

  4. @R.R. Jackson.
    Time to move on then. Let’s get on with LIAT 2020. Not even LIAT 74 workers support the PM’s herculean efforts to safeguard their retirement funds and jobs. “Not screaming his head off….” Why should he even bother given the baseless contempt of his detractors. Flush that! Let’s look to the future, Antigua Barbuda, one day at a time. LIAT 2020 here we Come.

  5. I am an Accountant and Business Planner with over forty (40) years experience. My professional opinion is that the best decision PM Browne could make would be to negotiate to acquire Barbados shares in LIAT 1974 Ltd in order to safe guard the jobs of LIAT 1974 workers and prevent another severe blow to Antigua and Barbuda economy.

    The LIAT 1974 Ltd debt of EC$ 100 Million should not be a deterrent. With restructuring under Antigua and Barbuda ownership that debt can easily be paid off. LIAT 1974 Ltd could reduce it’s fleet of aircrafts from 10 to 7. The 3 ATR planes that are mortgaged to the Caribbean Development Bank (CDB) could be given back to them, if necessary. But, I would much prefer to cancel leases for 3 other planes.

    Clearly, LIAT 1974 Ltd would also cease travelling to unprofitable destinations, reduce the number of its flights overall. The current Board of Directors would be replaced, with significant cost savings. The most important thing is to safeguard existing contracts and flight connecting arrangements with other major airlines.

    Starting up a new airline at this time will be cost prohibitive. A LIAT 2020 will stand no chance. PM Browne will not be able to raise the required funds. And, by the time he is ready all LIAT 1974 Ltd market share would have been taken over by other airlines, I need to give PM Browne a lesson in Business Planning.

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