Tue | Jul 7, 2020

LIAT to be liquidated

Published:Monday | June 29, 2020 | 12:30 AM

ST JOHN’S (CMC):

Prime Minister of Antigua and Barbuda Gaston Brown has announced plans to liquidate the regional carrier, LIAT.

Browne, who made the announcement on Saturday, said a new entity will be formed and a meeting of all shareholders will be held shortly to discuss the matter.

“COVID would have actually, let’s say increased the losses exponentially, so whereas in all of 2019 LIAT made a loss of about EC$12 million, that was within the means of the shareholder governments to subsidise,” said Brown.