LIAT requests funds from Antigua-Barbuda to pay CDB debt

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LIAT requests funds from Antigua-Barbuda to pay CDB debt

Unread post by bimjim » Fri Sep 01, 2017

http://www.caribbeannewsnow.com/topstor ... 35498.html

LIAT requests funds from Antigua-Barbuda to pay CDB debt
September 1, 2017

ST JOHN’S, Antigua

The government of Antigua and Barbuda has been asked to pay LIAT additional funds to meet its debt to the Caribbean Development Bank (CDB). The money requested is commensurate with the country’s shareholding, local media reported.

Antigua and Barbuda owns a 34 percent stake in the regional carrier. St Vincent and the Grenadines owns 12 per cent of the airline; Barbados has a majority share of 51 percent and Dominica has three percent. It is not known at this time whether the other shareholders are also being asked to contribute according to their shareholding.

Antigua and Barbuda Prime Minister Gaston Browne is on record encouraging other Caribbean countries served by LIAT to purchase shares in the carrier or “to contribute to LIAT’s operations”. Shareholders of the airline will hold a critical meeting about the company’s operations on Monday.

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