As of now, Government has no plans to take over inter-island airline service LIAT or its routes even as the regional carrier faces liquidation and restructuring.
The future of LIAT, which as of April this year was more than EC$100 million in debt, remains uncertain.
Prime Minister Dr Keith Rowley at a media conference on Monday indicated that T&T has no involvement in LIAT nor are there plans to get involved that arrangement.
He noted that the Government of Barbados speaks on T&T’s behalf in the matter as Government allowed its Barbadian counterparts to use, by proxy, the six percent shares as a residual it held.
“So the Government of Barbados is responsible for speaking for Trinidad and Tobago with respect to that six percent of the shares. We are not involved at all in the LIAT business and as of now, we have no plans to get involved in the LIAT arrangement.”
“LIAT is owned by other CARICOM territories and with the blessings of Trinidad and Tobago. LIAT being an airline, CAL being an airline, CAL having some overlap with LIAT services we are all in the same market and the Government of Trinidad and Tobago would leave that for Caribbean Airlines to protect the interest of the company and the people of Trinidad and Tobago while serving the region.”
(Source: Loop TT)
1 Comment
If the share holding country’s pay LIATS debts, as they are probably responsible to do because of LIAT trading under their instruction whilst insolvent, they will be able to sell the company, if they can find a mug.
But in these times of COVID 19, I doubt there are many mugs out there.