Regional airline LIAT could go belly-up in the next ten days unless CARICOM can find it a $10 million lifeline. The faltering airline needs an immediate cash injection of about US$5 million to keep flying or it could cease to operate soon.
Minister of Tourism Kerrie Symmonds has also sent a warning shot that Barbados won’t be the lone ATM machine for the cash-strapped airline.
“The hour of decision has finally come,” Symmonds told the Saturday Sun last night while confirming that Barbados, as the major shareholder in LIAT, remained interested in keeping the airline running, but that other island governments would have to pony up.
“From last year, it was clear that LIAT required radical restructuring of their operations, and that their situation was one which needed immediate attention. Between October last year and now, there have been limited improvements,” the minister claimed.