Antigua & Barbuda to own majority shares in LIAT?

Antigua & Barbuda to own majority shares in LIAT?

Prime Minister Gaston Browne said there are plans to increase Antigua & Barbuda’s shares in regional carrier LIAT.

He said the country could possibly becoming the majority shareholder in the company is “very probable”, but such a move would be subject to cash flow.

“We hope to make another payment shortly and we have been making payments but as you know, we have a number of pressing issues. We inherited a country – an economy that was not the healthiest and I am being very mild, but as soon as practicable we will make another equity injection into LIAT,” he said.

Antigua & Barbuda is the second largest shareholder in the company, with Barbados holding the majority of the shares.

Despite Minister of Tourism and International Transport in Barbados, Richard Sealy reiterating his stance that it would make “more sense” if the regional carrier was headquartered in his country rather than Antigua, PM Browne is adamant that LIAT will remain in Antigua.

“I know that Minister Sealy suggested that a decision has been taken to move LIAT’s headquarters, but that is not so. Perhaps he is either misinformed or he spoke out of turn, but the reality is there has been absolutely no discussions about moving LIAT’s headquarters,” he said.

The prime minister said any effort to advance Sealy’s suggestion will be resisted by the country.

(Antigua Observer)

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