By Melanius Alphonse
Caribbean News Now Associate Managing Editor
[email protected]
BASSETERRE, St Kitts — Prime minister of Antigua and Barbuda, Gaston Browne’s recommendation to the governments of St Kitts and Nevis, Saint Lucia, Grenada and Guyana to come on board and purchase shares in regional airline LIAT, following LIAT’s chief executive officer Julie Reifer-Jones announcement that the carrier needs a US$5 million cash injection to stay afloat, is bearing tangible results.
The government of Grenada has reportedly agreed to an immediate financial contribution on conditional terms in a bid to keep the failing regional airline operating 491 flights weekly across a network of 15 destinations.
The regional airline debt burden is approximately US$60 million, facing dire consequences to jobs, travel and commerce across the region if not immediately addressed.
According to Now Grenada, CARICOM affairs minister, Oliver Joseph, said, “We will make a cash contribution to LIAT this month and going forward we will pay LIAT additional funds based on load factor. Government’s decision is based on what was presented at the recent intersessional.”
