6th June 2019

Barbados To Give Up Majority Ownership Of LIAT

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By Barbados Today

Barbados Today -  Barbados is to give up its majority ownership of regional airline LIAT handing it back to Antigua and Barbuda, Prime Minister Mottley announced in Parliament tonight, ending weeks of speculation triggered by St John’s revelations of Bridgetown’s plans.

But the announcement puts the Mottley administration’s for regional aviation into sharp focus, amid speculation it may back the startup of a rival carrier involving Barbadian investors and a multilateral lender, Barbados TODAY has learned.

Mottley confirmed to the House that Barbados has accepted an offer from Prime Minister Gaston Browne to take up most of its 49.4 per cent stake in LIAT.

But she did not specify what percentage of shares is to be sold to Antigua and Barbuda which currently holds 34 per cent ownership, followed by St Vincent and the Grenadines and Dominica to make up 94.7 per cent of the total. Private shareholders and staff own the remaining 5.3 per cent.

The Prime Minister disclosed that Attorney General Dale Marshall is to head the negotiating team to settle terms with St John’s.

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