BASSETERRE, St. Kitts – REGIONAL airline LIAT has confirmed that it’s Chairman of the Board of Directors, Dr. Jean Holder, is retiring from his post with the troubled entity.
The confirmation came from Shareholders and Board of Directors of LIAT (1974) Limited.
In a statement, the airline confirmed that Dr. Holder notified shareholders of his retirement at the Company’s Annual General Meeting held in Antigua on Monday 16th December 2019.
After 16 years as a Director and Chairman of LIAT, he informed the shareholders that he would not be available for nomination as a Director of LIAT’s Board for the next term.
Dr. Holder stated it was fulfilling to perform that role in such a critical regional institution.
He thanked the shareholders and customers for their continued support; the employees for their hard work and commitment to continuous improvement; and all the other stakeholders who, through their patience, contributed to the ongoing safe operation of LIAT.
Dr. Holder’s announcement comes against the backdrop of the airline being on dire straits as it is currently cash strapped and in need of consistent bailouts.
Just recently, several regional governments agreed to provide subsidies to the airline to ensure that the regional connectivity continues.
Antigua and Barbuda’s Prime Minister, Gaston Brown recently announced that he is seeking to invest US$15M in the airline with support from a loan from a Venezuelan bank - Banco de Alba.
Meanwhile, Prime Minister of St. Vincent and The Grenadines, Dr. Ralph Gonsalves thanked Dr. Holder on behalf of all shareholders for his outstanding contribution in the oversight of the Board of Directors in some extraordinarily difficult times.
The Prime Minister stated that working with Dr. Holder had enriched him, and he expressed immense gratitude.