LIAT sale ‘may not hurt economy’ – Barbados Central Bank

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Barbados Central Bank Governor Cleviston Haynes is not predicting any harm to the economy should Barbados give up its majority shareholding in regional airline LIAT.

But as the Government offers its shares in the cash-strapped carrier to fellow shareholder, Antigua and Barbuda, Haynes appeared keen to see a sound footing for the airline which brings most Eastern Caribbean travellers to Barbados. 

He told journalists: “What needs to be resolved at the regional level is what structure LIAT is going to have going forward.

“I don’t envisage that there should be any negative impact from Barbados reducing its ownership share, but what is important for us is to make sure that we have a regional airline that can work efficiently for the benefit of the entire region.”

Barbados is seeking to give up most of its almost 50 per cent stake in the regional airline to its neighbour Antigua and Barbuda, which currently holds about a 34 per cent share.

The governments of St Vincent and the Grenadines and Dominica are the other two shareholders in the Antigua-based island-hopper. (Barbados TODAY)

1 COMMENT

  1. If Antigua gets its way with LIAT to fly to a USA port with a Jet service, Barbados may be the biggest winner, as tourism in Barbados seems to be the strongest in the Leeward and Windward Islands. The small Islands are less known to the American tourists than the bigger Islands. That is Barbados, Jamaica and Trinidad. Even in Canada the other day when a sport club had to decide where they would go to train for their winter season, they could only consider the bigger Islands because of the sport facilities available. And with regards to inter regional travel, Barbados is a profit center. And even though Antigua is closer to the nearest US Port, flights to Barbados are normally cheaper than flights to Antigua. And Barbados have many more flights going from USA and Canada than Antigua. Therefore LIAT will help Barbados get more tourists to its shores than Antigua.

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