Prime Minister Browne says the Government of Antigua & Barbuda will make available $2.8 million dollars for LIAT.<\/p>\n
\u201c$1.4 million will go to the [Administrator] and $1.4 million will go towards paying the staff who have been working for the past month and have not received a red cent,\u201d Prime Minister Browne said on Pointe FM.<\/p>\n
\u201cAntigua and Barbuda has agreed to step up and make those payments in full. And inasmuch as we are only responsible for about 36 per cent of the $1.4 million, there was a previous payment that we did not participate in earlier in the year, so on that basis we have opted to pay $1.4 million.\u201d<\/p>\n
The Prime Minister said this does stop the other countries \u201cto include Barbados,\u201d paying their share of the monies owed to the workers.<\/p>\n
\u201cBut we are not waiting on them to make their payment, we have decided to cover 100 per cent of the payment for the last month,\u201d he said.<\/p>\n
\u201cIf the Administrator is unable to get the necessary cuts to make LIAT viable, then clearly it\u2019s going to be mayhem because it means that creditors will maybe end up with nine per cent or less, if they\u2019re lucky,\u201d the Prime Minister explained.<\/p>\n
Cleveland Seaforth was appointed Administrator on July 25.<\/p>\n
\u201cHe\u2019s meeting with various stakeholders [and] one of the major objectives is to meet with creditors and to negotiate certain haircuts. If he\u2019s not successful in achieving those haircuts, clearly LIAT will be liquidated creating significant losses for creditors to include the staff of LIAT,\u201d the Prime Minister said.<\/p>\n
\u201cI am of the view that the creditors are rational people and that they will ensure that at least they come out with something rather than nothing.<\/p>\n
\u201cHis main role is to see how he can reduce liabilities and operating expenses and on the basis that he\u2019s successful in so doing, then we should be able to establish LIAT in some form, even if not at the size that it was pre-COVID, certainly a downsized and a far more efficient LIAT,\u201d Prime Minister Browne added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Prime Minister Browne says the Government of Antigua & Barbuda will make available $2.8 million dollars for LIAT. \u201c$1.4 million will go to the [Administrator] and $1.4 million will go towards paying the staff who have been working for the past month and have not received a red cent,\u201d Prime Minister Browne said on Pointe<\/p>\n","protected":false},"author":8,"featured_media":12370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[7],"tags":[],"class_list":["post-13321","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines"],"yoast_head":"\n