Monday 19 August, 2019

LIAT to continue flying, CEO assures

Caribbean airline LIAT will continue to fly across the region, despite its current financial difficulties.

The assurance comes from LIAT’s Chief Executive Officer Julie Reifer-Jones in response to news that the company is in need of a US $5 million cash injection to stay afloat.

Acknowledging the airline’s challenging financial situation, Reifer-Jones said LIAT has managed to continue its operations throughout the region with support from its main shareholders: the Governments of Barbados, Antigua & Barbuda, St. Vincent & the Grenadines and Dominica.

She noted that the airline has also been operating to destinations where there has been no support from governments and authorities to ensure that critical connectivity is maintained.

Discussions with regional Governments are underway and are intended to put in place new arrangements to provide a basis for sharing the burden amongst all the countries currently benefitting from LIAT’s services.

A restructuring exercise is also ongoing and is expected to improve the operations of the airline as the company moves to build a sustainable model.

Reifer-Jones said all stakeholders, whether labour, suppliers or financiers will be called upon to make adjustments as part of the efforts to achieve a viable airline operation.

The LIAT CEO said the airline has already been working to improve its On-Time Performance, with 83 percent of the airline’s flights operating on time in 2018.

LIAT currently operates 491 flights weekly across its network of 15 destinations.

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