The Antigua and Barbuda government says every territory to which the cash-strapped regional airline, LIAT, flies to will be asked to purchase shares in the new company as efforts continue to revitalise the embattled airline.
In a statement, the Government noted that “in the proposed new LIAT, the
salaries, wages and other emoluments will take up a smaller part of its cost of operations. Currently, three aircraft are being utilised, as opposed to 10 aircraft before the collapse of LIAT.”
The statement further noted that “any destination requiring more flights than has been deemed necessary, would make a special payment to realise its ambition…A minimum revenue guarantee (MRG) would be applied in order to determine what that cost would be. Every territory to which LIAT flies will be asked to purchase shares so that the burdens and the benefits can be equitably shared.” – Extract from the CARICOM BUSINESS Newsletter, Vol 5. No. 28
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