BARBADOS CONFIRMS PLANS TO SELL LIAT SHARES

Barbados has confirmed it will sell all but 10 percent of its shares in regional carrier LIAT to Antigua and Barbuda, making the twin-island state the majority shareholder in the carrier. Barbados’ Prime Minister Mia Mottley

made the announcement in Parliament yesterday, reaffirming what had already been reported by ABS News.

Prime Minister Mottley said Attorney General Dale Marshall will lead the negotiations. She also indicated that notwithstanding the impending share sale, Barbados remains committed to regional transportation. She referenced her country’s borrowing arrangement with the International monetary Fund to rescue Barbados’ flagging economy, and says this reality means there is only so much that Barbados can responsible do at this time.

Antigua and Barbuda, where LIAT is headquartered, wants to see the beleaguered carrier expand its reach and revenues, especially through the utilization of hitherto unused route rights.