LIAT 2020 Nears Aircraft Purchase Amid Shareholder Approval Awaited for Operations Kick-off

January 11, 2024 in Regional

LIAT 2020 awaits ‘no objections’ letters from LIAT 1974 Ltd. shareholders to purchase one of its leased aircraft during the winding-up process.

Prime Minister Gaston Browne underscores the letters’ importance for LIAT 2020 to secure an Air Operator Certificate (AOC) before commencing operations.

The delay is attributed to the necessary shareholder approvals, expected by the week’s end. Browne assures that, upon receipt, the purchase, costing between 4 and 4.5 million dollars (US), may conclude promptly.

LIAT 2020, a joint venture between Antigua and Barbuda and Nigerian airline Air Peace, plans to buy the aircraft at its current commercial value. Air Peace will hold a majority stake, and other Caribbean governments express interest in ownership.

LIAT 1974 Ltd., under administration since July 2020, will cease operations by January 24, 2024. The majority of its staff is slated for rehire by LIAT 2020, according to PM Browne.