Antigua & Barbuda Allocates $11 Million for Revival of LIAT 2020 Ltd

Antigua and Barbuda have earmarked an estimated XCD30 million East Caribbean dollars (USD11.1 million) from their 2024 budget to support the revival of LIAT 2020 Ltd, the successor to the troubled Caribbean carrier LIAT 1974 Ltd, operating as LIAT (Antigua and Barbuda).

Prime Minister Gaston Browne announced the allocation on December 15, emphasizing the importance of LIAT as a crucial component of Caribbean connectivity. The funds will be utilized to inject life into LIAT 2020 Ltd, which has been under court-appointed administration since July 2020.

Despite facing challenges such as unserviceable aircraft, unresolved issues for former workers, financial constraints, staff attrition, and disruptions due to the hurricane season in 2023, LIAT 1974 Ltd operated a limited schedule with 167 dedicated staff. The carrier serves multiple destinations across the Caribbean, connecting Antigua, Barbados, Dominica, St. Vincent and the Grenadines, St. Kitts & Nevis, Grenada, St. Lucia, St. Maarten, and Tortola.

Browne revealed that discussions with regional governments have indicated interest in partnering with Antigua and Barbuda to rejuvenate LIAT for the benefit of the entire region. The Caribbean Development Bank is expected to play a role in facilitating agreements between governments, paving the way for finalizing a deal with Air Peace, which is set to acquire a majority stake in LIAT 2020 Ltd. This partnership aims to secure a promising future for regional travel.

The Antiguan government’s commitment of XCD30 million will be directed towards ensuring LIAT 2020 Ltd has the necessary aircraft, maintenance, and operational arrangements to deliver safe, reliable, and efficient services to the people of the region.