St Lucia: No Agreeement on LIAT Stake

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By the Caribbean Journal staff

St Lucia’s government has not agreed to a proposal or deal involving the purchase of shares in regional air carrier LIAT, it announced yesterday.

The airline does play an important role in the region and needs greater support, according to Prime Minister Dr Kenny Anthony.

“There are burning issues of reform within the management structure of LIAT that need to be attended to and we believe that there are issues that currently face LIAT that need resolution,” Anthony said. “That being said, however, the authority for considering a relationship with LIAT is the Cabinet of Ministers of the government of St Lucia and we have not reached the point where there is any proposal or discussion with LIAT on the issue.”

At present, St Lucia’s government and people own 1.11 percent of LIAT.

“What I will say is, we have an environment that is more sympathetic to the continued survival of LIAT and we believe that not only is LIAT facing unfair competition within the region but we have to take a fresh look towards extending support to LIAT,” he said.

Today, LIAT’s three main shareholder governments, Antigua, Barbados and St Vincent and the Grenadines, will consider options for the airline, which reportedly lost $14.8 million last year.

 

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