Antigua and Barbuda intends to continue talks with Barbados over the sale of Bridgetown’s shares in the loss-making regional airline, LIAT, Antigua Observer has reported..
This amid media reports that the talks have collapsed.
Antigua and Barbuda’s Minister of Information, Melford Nicholas, was quoted as saying that a shareholders meeting will be held next month.
Nicholas asserted that LIAT is critical to not only the economy of Antigua and Barbuda but critical to commerce and other inter-regional travel.
He said his governmennt is expected to make another move to continue the talks with Barbados.
“Clearly, there was an attempt by the Government of Barbados to liquidate some of its equity in LIAT and the Government of Antigua and Barbuda has expressed some interest in stepping into that breach,” the Minister stated.
“What they asked for, for their portions of the shares, was something that Antigua deemed an inappropriate value and clearly those negotiations have stalled, but there are other ways by which the equation, in terms of equity within LIAT, can be pursued,” Nicholas told Antigua Observer.
He explained that the government of Antigua and Barbuda is still interested in seeing the continuous restructuring of LIAT.
According to regional media reports, Antigua and Barbuda currently holds 34 per cent of the shares and if it succeeds in convincing Bridgetown to part with its LIAT shares, would have 71 per cent of the airline.
The other shareholder governments are St Vincent and the Grenadines, Grenada and Dominica.