The Caribbean airline LIAT formally known as Leeward Islands Air Transport is on the brink of liquidation, according to Antigua and Barbuda Prime Minister Gaston Browne
The Prime Minister said in Barbados Today there will be a meeting of all shareholders shortly to discuss collapsing LIAT and a new entity will be formed.
“You would have found that since COVID, the planes have been grounded, they have to pay the lease payments and they are not getting any revenue.
“A decision will have to be made to collapse it and then maybe the countries within the region will have to come together to form a new entity.”
Leeward Island Air Transport was established in 1956 on the island of Montserrat. In 1971 Court Line Aviation of the UK acquired control and renamed the airline LIAT. Ownership of the airline was acquired by 11 Caribbean Governments in 1974 and it was renamed LIAT (1974) Ltd.
LIAT looks to liquidate; can CARICOM respond? – https://t.co/LcJXlddgwT pic.twitter.com/9vcewrEWFr
— Seth Miller (@WandrMe) June 29, 2020
source: Barbados Today
I believe an Irish Consortium Aviation company called Kingston Aviation are looking at taking over LIAT, and restructuring it. They are currently in talks with the various Governments
Yes, I actually read this in the paper today. Apparently Kingston Aviation is backed by Denis O’Brien of Digicell.