The Caribbean Airline LIAT Will Keep Flying, Its Chairman Assures

The shareholder of the regional airline put together a package of 11 million dollars to be used for restructuring the cash-strapped company. After pointing out LIAT is the “life blood” of the Caribbean, its Chairman Jean Holder assures it is not dead and will keep flying.

Talking to journalists in St. Vincent´s capital, Kingstown, this week, Holder admitted that LIAT is being operated at a time when running an airline is becoming increasingly difficult. He referred that in the next year or so a number of major airlines will disappear.

On the likelihood of a BWIA-LIAT merger, Holder said that merging two airlines that are both in difficulty will not necessarily make a very sound airline.

He, however, indicated that the two airlines could work together in some ways, since, according to him, functional cooperation is very important, and is the model that works best in the Caribbean.

Holder noted that air transport in the region, will be of vital importance whether or not the Caribbean Single Market and Economy comes into effect.

Finally, he said that LIAT would work in partnership with the Caribbean Development Bank to acquire funding to implement the second phase, which would involve the expansion of the company including the purchase of additional aircrafts.