Regional airline LIAT to get two more shareholders

The cash-strapped regional airline, Leeward Islands Air Transport (LIAT), is likely to get two more shareholders this year, the Prime Minister of St. Vincent and the Grenadines Dr Ralph Gonsalves has announced.

Gonsalves, who is chairman of the three shareholder governments of the Antigua-based airline, told Parliament that St Lucia and Dominica are likely to acquire shares in the airline, the main carrier serving the region.

St. Vincent and the Grenadines; Antigua & Barbuda and Barbados currently control the majority stake in LIAT.

Gonsalves said that his government remains committed to LIAT, its reform, fleet renewal and expansion, to meet the intra-regional air transport demands for Caribbean and international travellers.

“One thing is sure, unless a further fundamental restructuring of LIAT ensues, the potential of this vital airline service would not be fully realised. That is a major challenge in 2012 for the three shareholder governments …” said Gonsalves, who is also minister of Air Transport.

The airline, which operates 110 flights daily, faces tremendous economic problems due mainly to high fuel costs and the need to upgrade its aging fleet.