St Johns, Antigua & Barbuda – January 8, 2024
As LIAT 1974 Limited prepares to cease operations on January 24, Prime Minister Gaston Browne of Antigua envisions a seamless transition to LIAT 2020 Limited. During his weekly radio program on Saturday, Browne expressed his optimism, indicating that his administration is awaiting no-objection letters from other LIAT 1974 Limited shareholder governments to authorize Antigua and Barbuda’s purchase of at least one aircraft for LIAT 2020.
Browne outlined the plan, stating that Antigua and Barbuda aims to purchase LIAT’s three aircraft from the Caribbean Development Bank (CDB) at commercial value. Pending timely actions by the respective prime ministers and their governments, Browne expects the sale of the first plane for LIAT 2020 to be completed in a matter of weeks.
The objective is to wind up LIAT 1974 by the end of the month and initiate LIAT 2020 concurrently. Browne assured that the majority of LIAT 1974’s staff would be rehired at the new company.
LIAT 2020 is set to be a joint venture involving the governments of Antigua & Barbuda, Dominica, Barbados, and St Vincent and the Grenadines, along with Nigerian airline Air Peace, which is expected to hold a majority stake in LIAT.
LIAT 1974 Limited has been under administration since July 24, 2020, when it declared bankruptcy. Despite restarting operations in November 2020, the airline offered a limited schedule to destinations including Antigua, Barbados, the British Virgin Islands, St Maarten, and Dominica.
Cleveland Seaforth of BDO Eastern Caribbean, the court-appointed administrator for LIAT, informed the airline’s staff in a letter last week about the decision to permanently cease all commercial flying operations as of January 24, 2024. Over 90 staff members are expected to be impacted by the company’s closure.
Nate Media will closely monitor the developments surrounding the transition from LIAT 1974 to LIAT 2020, providing timely updates on this significant shift in the Caribbean aviation landscape.
