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LIAT shareholders reach decision

sherieholder, [email protected]

LIAT shareholders reach decision

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The Majority Shareholders of LIAT, Dr. the Hon. Ralph Gonsalves, Prime Minister of St. Vincent & the Grenadines, The Hon. Freundel Stuart, Q.C., Prime Minister of Barbados and Dr. The Hon. Baldwin Spencer, Prime Minister of Antigua & Barbuda met with the Chairman, Board and Management of LIAT in Bridgetown, Barbados today where the shareholders reached several major decisions on the Company’s re-fleeting plans.
Speaking at a press conference following the meeting, Dr. Gonsalves said the Company has completed its analysis and evaluation of the Proposals submitted by aircraft manufacturers.
The three Prime Ministers considered recommendations from the Company’s Board of Directors and Management and unanimously decided upon one aircraft type to renew LIAT’s ageing fleet. The Prime Ministers decided to defer the decision on other aircraft types to allow certain matters to be explored. It is anticipated that these decisions will be made in the short term.
“The Company will now proceed to discussions with the manufacturer of the first type selected. The discussions are intended to consummate in an agreement for the acquisition of new aircraft for the airline. For a number of reasons, we do not wish to declare just which aircraft type has been chosen. It would also be inappropriate at this stage before discussion with the manufacturers to give an indication of the decision of the Company in the selection of an aircraft type,” Dr. Gonsalves added.
The Company anticipates that these negotiations would commence immediately and proceed swiftly and soon thereafter a formal announcement will be made regarding the selection. (PR)