New LIAT Will Take To The Skies In August

• The Antigua and Barbuda government says it remains confident that the new regional airline, LIAT (Leeward Islands Air Transport Services ) 2020, will begin commercial operations early next month.
• However, the government says it is still awaiting a response from the Barbados-based Caribbean Development Bank (CDB) regarding its call for the bank and regional shareholder governments in the bankrupt airline to relinquish their interest in an escrow fund. This fund will be used to make the severance payments owed to the former employees. The shareholder governments of the former airline are Antigua and Barbuda, Barbados, Dominica, and St Vincent and the Grenadines.
• A statement issued after the weekly cabinet meeting noted that the ministers 'held a very brief discussion on LIAT (2020) and the possible start-up date for its re-commencement of commercial flights. 'Although a precise date has not yet been decided, the cabinet is confident LIAT will take to the skies in early August 2024,' the statement said.
• The commencement of LIAT operations would mean more direct flights to Antigua and Barbuda, boosting tourism numbers for 2024-onwards. This would result in greater growth across the tourism sector and related sectors, as well as greater economic growth for the dual island.
• Currently, Antigua and Barbuda is forecasted to grow by 5.8% in 2024, up from 4.2% in 2023, driven by a rebound in tourism (e.g. Antigua’s hosting of the UN’s Small Island Developing States Conference and co-hosting of the T20 Cricket World Cup) and construction activity; two of the major contributors to gross domestic product (GDP).

 (Sources: Trinidad Express Newspaper & NCBCM Research)