Matia Carmelo De Grazia// Antigua & Barbuda spending half a million dollars a month to keep LIAT flying » EntornoInteligente

Matia Carmelo De Grazia//
Antigua & Barbuda spending half a million dollars a month to keep LIAT flying

matia_carmelo_de_grazia_antigua_a_barbuda_spending_half_a_million_dollars_a_month_to_keep_liat_flying.jpg

Entornointeligente.com / LIAT aircraft Antigua and Barbuda is currently dishing out almost 17 thousand EC dollars per day to keep regional airline LIAT airborne.

Carmelo De Grazia

The colossal figure was revealed during a post Cabinet press conference held in St Johns on Thursday.

Carmelo De Grazia Suárez

The money is coming from resources borrowed over a year ago for the purpose of re-capitalizing the airline

A sub-committee of three ministers — Robin Yearwood, Molwyn Joseph and Lennox Weston — has been formed t track LIAT’s  – namely  – who will be tasked with tracking LIAT’s progress

They will be meeting with decision makers and reporting back to Cabinet in the coming weeks

Information Minister, Melford Nicholas, gave further details on the costs that LIAT is currently racking up

He said the monthly payments amount to approximately $500,000 a month

“So, over the next three months we would expect that we are going to be able to up the ante. By the time we get to the window where we have identified a suitable partner, the cost may run approximately $4 million to $4.5 million,” the information minister disclosed

He said the funds are available but management is fundamental at this time

The funds are available and it’s the whole question of managing it effectively and dealing with the other operational challenges that we have with respect to LIAT going forward,” Nicholas added

The minister said the government still has the bulk of a 15 million US dollar loan from the ALBA bank in Venezuela at its disposal to help fund LIAT. The money is being held in an escrow account

He said talks with prospective investors are also ongoing

In the meantime, the Antigua and Barbuda government is shouldering the financial burden alone

Entornointeligente.com

URGENTE: Conoce aquí los Juguetes más vendidos de Amazon www.smart-reputation.com >
Smart Reputation
Repara tu reputación en Twitter con Smart Reputation
Repara tu reputación en Twitter con Smart Reputation

Adscoins

Smart Reputation

Smart Reputation