Antigua Will Negotiate Purchase of LIAT Shares

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Thursday 9th May, 2019-Antigua and Barbuda intends to negotiate with Barbados in acquiring that country’s shares in LIAT if the Mia Mottley administration agrees to sell.

Prime Minister Gaston Browne has written his Barbadian counterpart offering to purchase their 47% stake in the airline.

The amount of shares is described as being “not so relevant”, with Ambassador Lionel ‘Max’ Hurst telling reporters it is the value of the shares that are of significance and if the Barbadian head of government agrees to sell, then St. John’s will negotiate the cost.

Shareholding governments have been appealing to other countries served by LIAT to play a part in providing financial assistance to the beleaguered carrier, but the reaction is mixed.

If Antigua and Barbuda is successful, it will become the largest shareholding government in LIAT and will control 81% of shares in the airline.