Barbados News

Barbados and Antigua closer to solving issues relating to LIAT

Antiguan Prime Minister Gaston Browne says there appears to be “some convergence” regarding the issues Antigua and Barbuda has had with Barbados as it relates to the sale of its shares in the cash strapped regional airline, LIAT.

Antigua and Barbuda currently holds 34 per cent of the shares in the airline and had discontinued its interest in purchasing the some of the shares owned by the Barbados government.

Bridgetown had initially indicated it wanted US$44 million for its LIAT shares that Prime Minister Browne had said was too steep and that while his government wanted a bigger stake in the regional airline, it had no intention of “giving away money”.

St John’s had sought to acquire the LIAT shares owned by Bridgetown, through a take-over of the liability of Barbados to the Caribbean Development Bank (CDB), and would have given it 81 per cent of the airline that employs over 600 people and operates 491 flights weekly across 15 destinations.

The other shareholder governments of LIAT are Dominica, St. Vincent and the Grenadines and Grenada.

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