“Therefore…notwithstanding our absolute commitment to regional air travel and notwithstanding the fact and given in fact that the studies have recommended a different module and restructuring for LIAT and given the inability of the government of Barbados to do for LIAT in the next five to 10 years what the government of Barbados did for LIAT in the last five to 10 years when we moved significantly to assume major shareholder responsibilities, we have taken the determination, a decision as a cabinet that it is time for us to step back while at the same time allowing other governments to continue with their proposals to restructure LIAT in the way which they have determined,” Mottley told parliament.
Last month, Antigua and Barbuda Prime Minister Gaston Browne said he had received communication from his Barbados indicating that Bridgetown was willing to sell all but 10 per cent of its shares in the airline.
Antigua and Barbuda currently holds 34 per cent of the shares and if it acquires Bridgetown's shares, would have 81 per cent of the airline.
Barbados along with Antigua and Barbuda, Dominica Grenada and St. Vincent and the Grenadines are the main shareholders of the airline that employs over 600 people and operates 491 flights weekly across 15 destinations.
- Countries: Barbados