The Prime Minister was quick to add he does not see the region moving forward without a new airline serving the former LIAT markets, possibly funded by both private and public capital. Interestingly, Browne doesn’t want the new Airline to move away from the LIAT name. He said “LIAT is a Caribbean institution built by Caribbean people of which we should be proud.”, He went on to cite examples of institutions in the US in the aviation industry, including American Airlines, which “have gone belly-up many times over. Browne does want to get a new operation going quickly, comparing today’s news to 1974 “when LIAT was collapsed, my understanding is that it took a day to start the operation of a new entity,” he said.”, “It may be a little more difficult to get it done within 24 hours, and I do understand that there are a number of stakeholders that we have to satisfy, especially creditors and I believe that we could do a work out with the various creditors and to literally get some arrangement in which they can accept that we are not conveniently closing LIAT 1974 Ltd. Antigua’s Prime Minister Gaston Browne has rejected any idea of the Trinidad-based Caribbean Airlines replacing LIAT which is about to go belly up. The liquidation of LIAT (1974) Ltd brings an end to the long troubled sub-regional airline which first rose up into the skies some 65 years as Leeward Islands Air Transport. If LIAT enters into liquidation, it will be the 14th carrier to collapse and face a possible shutdown of operations in 2020. LIAT to relaunch in mid-4Q20 29.10.2020 - 05:00 UTC. Barbados Today: “From all indication, LIAT will be liquidated,” Prime Minister Gaston Browne has just announced. ST. JOHN’S, Antigua, CMC – Prime Minister of Antigua and Barbuda, Gaston Brown has announced plans to liquidate the regional carrier, LIAT. Caribbean airline LIAT is on the brink of liquidation, according to Antigua and Barbuda Prime Minister Gaston Browne. The Airline was founded in 1956 by Sir Frank Delisle using a single Piper Apache flying between Antigua and Montserrat. Press Release:- The announcement of the pending liquidation of the regional airline LIAT (1974) Ltd has been received with deep concern by the Saint Lucia Labour Party. The lack of assets will affect severance packages and liabilities to staff alongside creditors. 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Norwegian Air Shuttle has begun moving aircraft to Ireland’s Shannon Airport as it plans to return the planes to lessors…, As international demand keeps flat during the COVID-19 pandemic crisis, airlines are trying to increase their reach to find any…, 2020 changed everything, raising questions of whether things ever return to normal or if will there be a whole new…, British Prime Minister Boris Johnson announced last Monday that his country was entering a new lockdown this week. LIAT, which operates 491 weekly flights to 15 destinations from Puerto Rico in the north to Guyana in the south, has suspended its operations until July 15 as a result of the COVID-19 pandemic. “From all indication, LIAT will be liquidated,” Prime Minister Gaston Browne has just announced. It first started with their first Boeing…, Viva Aerobus, Mexico's ultra-low-cost airline, closed the year with more than 8 million passengers flying and a load factor of…. LIAT would likely be left to collapse, Gaston Browne, the Prime Minister Antigua … Almost three weeks after Prime Minister of Antigua and Barbuda Gaston Browne announced the airline would be liquidated and a new airline formed, LIAT has called a meeting of the company’s creditors to discuss its wrapping up. Residents in the British Virgin Islands with credited accounts in the cash-strapped regional airline, LIAT, may soon be able to utilise their credit as plans have been announced to ‘reorganise’ the airline, therefore staving off previously-announced plans to liquidate the company. Caribbean Airlines has begun extending its services to a number of places regionally after its competitor, LIAT, indicated uncertainty in its future endeavours. LIAT, headquartered in Antigua and Barbuda is one such brand that faces liquidation following a series of unsuccessful months due to COVID-19. It was announced that the airline will be formed into a new entity that will provide vital connections between the Caribbean islands. The PM stated that “COVID would have actually, let’s say increased the losses exponentially, so whereas in all of 2019 LIAT made a loss of about EC$12 million, that was within the means of the shareholder governments to subsidize.”. The governments cannot go any further with it.”. Caribbean regional airline, LIAT (LI, Antigua), currently in administration, is to relaunch on November 1, 2020, according to the Office of the Prime Minister of Antigua and Barbuda. A LIAT ATR awaits departure at dawn. Dr. Ralph Gonsalves, Prime Minister to St. Vincent and the Grenadines, shared similar opinions. They never discontinued the name American Airlines. LIAT is heading into liquidation. Flights are suspended through at least 15 July 2020 and that could be enough to kill the carrier. Creditors are about to have their say on whether cash-strapped regional carrier LIAT should go into liquidationAlmost three weeks after Prime Minister of Antigua and Barbuda Gaston Browne announced the airline would be liquidated and a new airline formed, LIAT has called a meeting of the company’s creditors to discuss its wrapping up. The Prime Minister of Antigua and Barbuda announced over the weekend that the regional carrier LIAT Ltd. Airlines will likely face liquidation in 2020. One of the largest liabilities LIAT owes is a $29 million severance payment it contractually owes to its’ employees. (Photo: JAMES WILLAMOR/FLICKR0 After dodging the threat of liquidation earlier this year, the troubled Antigua-based airline LIAT returned to the skies on Sunday in … In his comments to the Daily Observer, a Vincentian outlet, he echoed the plan to liquidate LIAT and announced the airline’s board of directors has already issued a recommendation to do so. “LIAT is a Caribbean Institution; the pride of the Caribbean people… We use cookies to ensure that we give you the best experience on our website. Rick is a retired airline maintenance professional with over 40 years experience in commercial, corporate and military aviation sectors. Before the coronavirus outbreak, it had an optimistic outlook for 2020, but the virus-driven shutdown of operations caused LIAT to announce in May that it needed an infusion of $5.4 million to stay aloft. The collapse of the region’s iconic airline, LIAT, is triggering diverse reactions from the public. The industry has gone through mass furloughs, layoffs, aircraft storage and retirement,... PRESTWICK — The Antonov AN225 Mriya has touched down in Glasgow Prestwick Airport (PIK) today. Rick is a veteran of the United States Air Force and has served in multiple leadership positions including Director of Maintenance for a large corporate aviation firm, airline Director of Engineering and has chaired multiple aviation maintenance safety and reliability industry committees. 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Prime Minister of Antigua and Barbuda Gaston Browne seems to have been successful in his quest to halt the liquidation of regional carrier LIAT, at least for now. The airline, based in Antigua, will be formed into a new entity that will provide vital connections between the Caribbean islands. A LIAT ATR 42-600 aircraft preparing for takeoff. LATAM, Avianca, Virgin Australia, Trans States Airlines and Flybe are among some of the others who are in bankruptcy and facing financial restructuring hurdles. The Prime Minister said there will be a meeting of all shareholders shortly to discuss collapsing LIAT. Notices of the plan have been submitted to the carrier’s shareholders under Antiguan law. A new entity will be formed. It was jointly owned by a local businessman and Spanish regional carrier Air Nostrum. He appears to imply that the more significant losses were too much for the shareholders and governments to swallow. Liat The Caribbean Airline. LIAT Liquidation Announced MIAMI – Gaston Browne, Prime Minister of Antigua and Barbuda, has announced that LIAT will enter liquidation and a new airline will take its place. Image by Andrew Moore via Flickr/CC BY-SA. Rick took his first airplane ride at six months old and became an airline geek shortly thereafter. It operates high-frequency inter-island scheduled services serving several destinations in the Caribbean. MIAMI – Gaston Browne, Prime Minister of Antigua and Barbuda, has announced that LIAT will enter liquidation and a new airline will take its place. Forced by the dramatic health situation due to the new COVID-19 strain, the British government ordered its citizens to stay at home unless very exceptional circumstances required. Rick holds an FAA Airframe & Powerplant (A&P) and a FCC General RadioTelephone Licenses. It is unclear if the new claimants will honor reimbursements. Creditors, including the staff of LIAT, would benefit from the Administrator’s obligation to pay them a minimum of what they would get in the event of liquidation. The Prime Minister said in Barbados Today there will be a meeting of all shareholders shortly to discuss collapsing LIAT and a new entity will be formed. LATAM, Avianca, Virgin Australia, Trans States Airlines and Flybe are among some of the others who are in bankruptcy and facing financial restructuring hurdles. The primary concern is that LIAT doesn’t own enough assets to satisfy the creditors. Flights to St. Vincent and the Grenadines St. Vincent and the Grenadines Restaurants Things to Do in St. Vincent and the Grenadines St. Vincent and the Grenadines Travel Forum St. Vincent and the Grenadines Photos St. Vincent and the Grenadines Map St. Vincent and the Grenadines Travel Guide All St. Vincent and the Grenadines Hotels While a new airline has the potential to re-employ some of those who are out of work due to the liquidation, Browne did say a refreshed operation would be far leaner; as a result, not everyone could be re-employed into the new Airline. Browne closes off saying, “if you are going to have a new entity that is scaled down, that is viable, that is efficient, that can meet the connectivity needs of the Caribbean people, then clearly that has to be the option that we pursue.”. TORTOLA — Troubled regional airline LIAT, which faced liquidation earlier this year, has resumed service to the British Virgin Islands with flights from … Flights are suspended through at least 15 July 2020 and that could be enough to kill the carrier. The demise of an institution that has steadfastly served the region and the regional integration process for approximately sixty years is to be regretted. A new entity will be formed. At the June 27 meeting on LIAT with the major shareholder governments, it was unanimously agreed there would be liquidation of the airline. The airline, based in Antigua, will be formed into a new entity that will provide vital connections between the Caribbean islands. The aircraft not owned by the carrier would be “charged to the Caribbean Development Bank,” meaning the Airline would have very few assets for liquidation. Browne is concerned that the region cannot see the area continuing without an air link, but does admit any new airline would require both public and private capital. Browne, who made the … Following a meeting with shareholders on Monday, a decision was taken that could see the airline take to the sky in as little as 60 to 90 days. If LIAT enters into liquidation, it will be the 14th carrier to collapse and face a possible shutdown of operations in 2020. With its regional airline LIAT slated for liquidation the Caribbean is looking to outside resources to help maintain air connectivity among the islands. (Photo: Maxime ✈ from Le François , Martinique [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)]). Advertisement: Yesterday, the Prime Minister of Antigua and Barbuda announced that Caribbean airline LIAT would be liquidated following a series of unsuccessful months due to COVID-19. 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