The majority of the shareholders of the loss-making regional airline, LIAT, are meeting Friday in St Vincent and the Grenadines, regional news reports have said.
Prime Minister of St Vincent and the Grenadines, Dr Ralph Gonsalves, who is also Chairman of the Major Shareholders, is down to deliver remarks, along with Barbados Prime Minister, Mia Mottley.
Ahead of the meeting, Mottley was quoted by Barbados Today as underscoring the importance of the gathering.
“For LIAT to be viable, it must be recapitalised and the shareholders have to play an even more active role in the sustainability of its operations,” she stated.
The Barbados PM declared that LIAT was extremely important to Barbados and the region and tough decisions had to be made to bring it back on track.
Just last month, Lucia’s Prime Minister Allen Chastanet clarified his Government’s position on LIAT following reports carried by local and regional media that this country would subsidise the airline.
According to Chastanet, no such decision has been taken.
He said that while Saint Lucia supports LIAT as a regional airline, his government has been consistent in its position that the carrier should operate on a strictly commercial basis.