Talks Held on Antigua Acquiring Majority Shares in LIAT

530
File Photo

Tuesday 2nd July, 2019- Two days of negotiations ended today in Bridgetown over the takeover of Barbados’ majority ownership of LIAT by Antigua and Barbuda.

according to the Barbados Advocate, teams from both countries met at the Hilton Hotel for talks, a week after Barbados’ lead negotiator, Attorney General Dale Marshall, revealed he had tried unsuccessfully to arrange a previous meeting with LIAT officials to discuss the details surrounding selling its 49.4 per cent stake to the Gaston Browne administration.

The Attorney General said he was hopeful he would be able to meet with authorities from St John’s before the start of the CARICOM summit in St Lucia which begins on Wednesday.

The Antiguan negotiating team included Minister Lenox Weston and Senior Minister Sir Robin Yearwood, while   Barbados’ contingent was made up of Attorney General Dale Marshall, Minister of Tourism Kerrie Symmonds and Director of Finance and Economic Affairs Ian Carrington.

Prime Minister Mia Mottley recently announced her government’s plans to sell its majority ownership to the second highest shareholder Antigua, following an offer to purchase the shares contained in a letter from Prime Minister Gaston Browne and dispatched to Bridgetown.

Antigua and Barbuda controls 34 per cent stake in LIAT.

Prime Minister Mia Mottley has maintained that Barbados simply was not in a financial position to support LIAT due to the country’s current economic position and as a result had made a decision to “take a step back”.

Suggesting that the regional airline was in a need of an overhaul, the Prime Minister promised Barbados would continue to support intra-regional travel.