Business
LIAT struggles to survive
Leeward Islands Air Transport (LIAT) management remains hopeful that it will be able to break even this year.
The company’s major share holders, have revealed that the airlines’ survival is at risk due to the economic environment, escalating fuel prices, higher operating costs and a client base that has increasingly become more conservative in spending.
The assessment by Prime Ministers Dr. Ralph Gonsalves of St. Vincent and the Grenadines, Barbados’ Freundel Stuart, and Baldwin Spencer of Antigua and Barbuda came as the airline celebrates 55 years of operations.
In addition, the Chief Financial Officer Ms. Julie Refier-Jones during a press conference on Friday, acknowledged that the global economic downturn has taken a toll on the airline and the people who may use its services.
The airline must embrace change by minimizing costs, and reducing on operational inefficiencies, inorder to adapt to increased competition in the aviation industry.
