By Melanius Alphonse
Caribbean News Now associate managing editor
[email protected]
ST JOHNS, Antigua – LIAT’s shareholders’ meeting last Tuesday faced a series of options in consideration over the worst financial crisis of its existence. Airline executives, governments and potential investors were in extensive discussions on business models, LIAT’s social and economic viability and air transportation in the wider region.
LIAT’s contribution to regional transport and the region’s economic viably are of significant concern to governments and business interest, notwithstanding the assertion by Saint Lucia’s prime minister that “There are other airlines and if in fact, LIAT were to shut its doors, others would be willing to step in. Maybe that’s what we need. We need a fresh start.”
Antigua and Barbuda Prime Minister, Gaston Browne tabled a strategic approach on LIAT and pledged his government “to resist any collapse of LIAT and any move to recreate its replacement.”
Regionalism, economic viability in the public interest, a public/private partnership, including a shareholder buy-out option formed part of Browne’s strategic approach to safeguard regional transport.
However, the future direction of the airline forging greater alliances while serving the wider Caribbean will mean a significant shift in how LIAT currently conducts business, having to re-examine its fleet of aircraft, reconfiguration of routes, cost of regional air travel, taxes, regulatory amendment, and a minimum revenue guarantee model.
Chief of staff in the office of the Antigua and Barbuda prime minister, Lionel ‘Max’ Hurst, said plans being developed included “interest by Sir Richard Branson of Virgin Records as a potential investor, while extended routes, a plan that was proposed by LIAT several years ago when it began considering purchasing jets with…
