LIAT shareholders to collapse airline: Unconfirmed reports

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Collapsing LIAT will be on the agenda when the shareholders of the cash-strapped regional airline meet this weekend.

Talk about the possible winding up of the airline have been circulating recently, but shareholder government have not confirmed this.

Earlier this week St. Vincent and the Grenadines Prime Minister, Dr. Ralph Gonsalves, who is chair of the shareholder governments, told the Caribbean Media Corporation (CMC) that Saturday’s virtual meeting will discuss a number of issues facing the Antigua-based airline, including the impact the coronavirus (COVID-19) has had on the struggling airline.

Gonsalves acknowledged that “there has always been a proposal (on winding up) which has been on the table….but shareholders have not discussed that”.

Meanwhile, Barbados directors of the cash strapped airline met on Monday, discussing the future of the airline including the possible sale of half of the airline’s fleet.

Antigua and Barbuda Prime Minister Gaston Browne said while he was not privy to any report regarding the possible winding up of the airline, he too like his St. Vincent and the Grenadines colleague, has been examining the likely impact of COVID-19 on the finances of the airline.

LIAT was forced to shut down its passenger commercial flights since March when regional government closed their borders as part of the efforts to curb the spread of the virus that has killed thousands of people and infected millions of others worldwide.

“I have no doubt that at the end of the day there will always be a LIAT, even if it is not in its present form,” Browne said.

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