Bracing For LIAT Budget Cuts

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Bracing For LIAT Budget Cuts

Unread post by bimjim » Thu Feb 28, 2019

https://www.winnfm.com/news/local/29058 ... udget-cuts

Bracing For LIAT Budget Cuts
Ken Richards
Wednesday, 27 February 2019

St Kitts and Nevis (WINN)

Following concerns expressed about coming LIAT Budget cuts, Antigua and Barbuda Prime Minister Gaston Browne says shareholder governments need to do what is necessary to save the regional airline.

Prime Minister Browne’s explanation did not confirm that LIAT is actually about to undergo some restructuring because of pending budget cuts.

PM Browne said, “Whatever is necessary to save LIAT will be quintessential for all stakeholders to cooperate, it doesn’t matter the sacrifice that is required we all have to make sure that we play a role to keep LIAT in the air. That is absolutely important for connectivity for air transportation within the region and sacrifices have to be made and those sacrifices should be made readily by all stakeholders.”

The Antiguan Prime Minister made reference to the Barbados position on LIAT.

Barbados is one of the key shareholders.

“I think what they are concerned about is taking on additional debt. LIAT has debt at the Caribbean Development Bank and they are asking the four shareholder governments to take over. Antigua and Barbuda has readily agreed to assume $US16 million dollars of that debt, I think that Barbados is saying that it’s in IMF program and there is some difficulty but I am pretty sure that in order to save LIAT they will go the extra mile and that they will take over their portion of the debt.”

When asked if he would encourage the other shareholder governments to do that Browne said, “Absolutely, LIAT is an essential service, you can’t have a successful integration movement and not have the ability to move people.”

The alarm about possible coming Budget cuts at LIAT was raised by the Leeward Islands Pilots Association President Carl Burke.

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