Javascript Menu by Deluxe-Menu.com

SKNBuzz Radio - Strictly Local Music Toon Center
My Account | Contact Us  

Our Partner For Official online store of the Phoenix Suns Jerseys

 Home  >  Headlines  >  NEWS
Posted: Thursday 27 June, 2024 at 5:31 PM

STATEMENT: LIAT (1974) Limited Aircraft Sale

Logon to vibesbarbados.com... Barbados News 

    June 27, 2024

     

    Earlier this year, LIAT (1974) Limited ceased operating after entering administration in 2020. The company’s shareholders – the governments of Antigua and Barbuda, Barbados, Dominica, and St. Vincent and the Grenadines – agreed to the sale of LIAT's three aircraft to the Government of Antigua and Barbuda.

     

    An Aircraft Sale Agreement, for the sale of the three aircraft over which the Caribbean Development Bank (CDB) holds mortgages, has been executed between the Administrator for LIAT (1974) (as the seller) and the Government of Antigua and Barbuda (as the buyer).

     

    CDB is not a party to the sale agreement. CDB’s only role is to provide the necessary consent for the sale, which it has done.

     

    Under the sale arrangement agreed to by the shareholder Governments, the Governments’ approved that money from the sale should be proportionately allocated towards paying outstanding balances on the CDB loans that were initially made to the shareholder Governments to support LIAT (1974) Limited’s operations. The decision about the use of the sale proceeds rests with the shareholder Governments.

     

    CDB is not involved in the financing or any aspect of the operations of LIAT 2020.

     

    The Bank continues to take a strong interest in the development of regional transportation and remains a strong advocate for the development of the Caribbean's transportation networks and infrastructure.

     

     

     

     

     

    Disclaimer

     

    This article was posted in its entirety as received by SKNVibes.com. This media house does not correct any spelling or grammatical error within press releases and commentaries. The views expressed therein are not necessarily those of SKNVibes.com, its sponsors or advertisers

     

Copyright © 2025 SKNVibes, Inc. All rights reserved.
Privacy Policy   Terms of Service