The Nigerian airline Air Peace will soon take up a 70 percent stake in LIAT 2020 Ltd.
Antigua and Barbuda Prime Minister Gaston Browne, who made the announcement, said the airline would be strictly commercial.
Browne said it would not be a ‘regional bus’ operating unprofitable routes.
He said moves were underway to establish the operating certificate for LIAT 2020 and establish the partnership with Air Peace.
Air Peace Airline, a private flight servicing agency, was founded in 2013.
On its official website, the carrier said its vision is to expand domestically and beyond as the largest and most profitable airline, achieving safe, efficient and affordable short and long-haul services.
Meanwhile, LIAT is currently operating with two aircraft and is serving a reduced route.
But the Antigua and Barbuda Prime Minister indicated to state-owned ABS that would change when the deal with Air Peace is final.
“They will bring some assets, and we will also acquire some assets as well, and hopefully, we could have maybe five, six aircraft operating in the region under the name LIAT,” he told ABS News.
“We think that LIAT is a strong brand. It’s a regional brand which we believe should be maintained and I am hoping that we can make this a reality so we can protect the existing jobs and even to create new jobs for those employees who are displaced, especially the pilots,” Browne explained.
Given the essential nature of regional transportation, he said the original intention was to have a LIAT owned by regional governments.
The Antigua and Barbuda leader acknowledged that some would try to second-guess the Air Peace move.
However, he said he knew of no other viable option currently.
“I will accept that regional governments would have indicated a willingness to invest in the regional airline, but in terms of having firm commitments, we’re not at that stage and we need to move,” Browne declared.
In 2022, the governments of Antigua & Barbuda, Barbados, Dominica, and St. Vincent & the Grenadines – the four major shareholders of LIAT (Antigua and Barbuda) (LI, Antigua) – resolved to liquidate the debt-ridden regional airline and transfer its assets to a new company called, LIAT 2020 (Antigua).
The old company, operating under the legal name LIAT (1974) Ltd., had been in bankruptcy restructuring since July 2020.
Good luck !
Hello Readers! Let us put a Public Offering Prospectus Together, An Authorized Capital To
Raise U.S.$10B and List LIAT On The Nigeria Stock Exchange and The Eastern Caribbean Securities Exchange. I Will Be One of The First Shareholders To Step Up To The Plate. No-one Talking. Calvin Lake.
These Nigerians are so Corrupt and Liat Have them in their Business
It is so the drugs and the fraud will start coming in. Soon the caribbean will be filled with Nigerians! A nation that cannot be trusted! Will not be boarding their LIAT flight for sure. Surely there is something wrong with those caribbean leaders! It’s like demons collecting what is owed to them from those leaders!If there is one nation that cannot be trusted to invest not even in their own country is Nigerians! Nigerians do not even trust other Nigerians! That tells you a lot! Fraud is wrired in their DNA. And they think they smart! And can outsmart any system! God help us all!
I will be willing to buy some share whenever this happens
@What a Jackass…..it’s time for the likes of you to vacate this earth so the rest of us will live in peace with one less BIG BIG BIGOT. For decades Liat has been struggling to stay afloat and now they have found an investor who is willing to sink capitol (venture capitol) and take a risk, A BiG RISK for the EC Region to have interconnected flights in this day and age without people flying to Miami to get to another Caribbean island and this is the only crap that comes to (your mind and delusional yellow school of thought), you are in need of help on a SERIOUS LEVEL. May I suggest to you to visit ancestry.com (willing to pay) you might be surprised to know the origins from wish you came from.. If you are St Lucian, Shabbin or not ( know how some of you fools think that you come from Europe ) would be surprised to know like half of the Caribbean ancestors were from NIGERIA.
The highest Low grade Lucian You are one of those corrupted ones who have colluded with the Nigerians in supporting this “sell-out!” of St lucia and the rest of the Caribbean. You will be dealt with by the Most High! Your deeds will catch up with you. May the Nigerians sift you like wheat! You have done too much damage to this island and any fool who trust you to lead anything and to be involved in anything deserve what they get!.
While you are at it Mr. Prime Minister, please give the former LIAT workers from Antigua s good package for their years of service, that is paramount.
I eh know why people taking on Salty aka most honorable lucian highgrade. Mate is one of the biggest idiots down South, if not the biggest, who always tries to sound intelligent to make himself feel good. Meanwhile, the bastard wouldn’t know humbleness if it smacked him in the face!
Maybe the centralized Castries Don can ask the Nigerians to help him move some of his product.
Let the Nigerians take over LIAT . I will purchase a ticket to the USA to hear this fraud and money laundering case. I taking front row seat for Hush Puppy 2.0. How many years he have in Federal prison now? Suffice it to say, his life aint enough to make up for the number of years he got. Nigerian Hush Puppy and the caribbean was a ting. Never knew this fraud and fraudster was linked to the caribbean until the story came through on my feed on youtube.
NO GRADE go to your Nigerians who sold u in the first place in the slave trade! Become a new slave for them. But for Chris sake St Lucians should not go down with you!
@ What and @ Corex:- Thanks to you two guys, you’ve seen it the same way I did. NEVER TRUST A NIGERIAN. My experience with these guys in London, U.K. coming close many times to a nasty fight that would not end well; now you want to get in business with a Nigerian outfit? good luck with the blessings of this wise guy Gaston Browne/the only deal he ever made was to lend us some Cops on short term;
As one of the boys said, ” a sell out” of St. Lucia, and may I add – not the first time. The Castries Harbour deal with a wise guy, signed o.k. by the wise ones in Cabinet; we haven’t heard heard about this deal or this guy ever since; (I will stop short here) oh the crazy deals people play with and they live to regret it. Wait till the Caribbean is flooded with Nigerians buying into businesses to get a footing – it’ll be like the ‘wild, wild west’ all over again.
@ Corex and whatever Alias and Jackases In the words of Jean Stapleton “Archie you need help”.
Nigeria has wealth and riches. They also have corruption and counterfeit because too much intelligence and ambition exists amongst limited opportunity. The Counterfeit opioid/ Pharmacutical market is huge there. Contrary to what people believe, most online scams originate from South Asia/ India, not Nigeria.