Home' Trinidad and Tobago Guardian : November 13th 2013 Contents Bank (CDB) to finance the purchase of aircraft in the
context of a fleet modernisation project.
Liat said that the loan agreements "provide for the
loans to be on lent-to and repaid by LIAT over a 13
year period following a grace period of two years".
The fleet modernisation project involves the replace-
ment of Liat s aging fleet through a combination of
lease and purchase of aircraft; the transition costs
associated with the changeover; the upgrade of main-
Anthony said while his administration was lending
support to the regional airline, it was doing so cau-
"We are prepared to agree to a guarantee, in other
words they are not the ones taking the loan and we
are merely guaranteeing it.
"The reality is that it s not money up front which
we are taking from the treasury and passing it on to
Liat. But regardless we have to very careful because
all the loans you take end up being ascribed to your
GDP, because it becomes what is called a contingent
liability," he said.
Anthony said the guarantee comes with stipulations
including the selection of routes which he contends
should be market driven.
"We have to review carefully the routes selected by
the airline, to make sure that the people of St Lucia
are not disadvantaged, as we think that they have
been some very bizarre routes.
"There have been instances where for example you
fly past St Lucia to go to Barbados to pick up an aircraft
from Barbados and then return to St Lucia.
"So that s an issue for us and we need to determine
whether Liat is acting is acting in a fair manner and
whether there is equity in its decision to support
certain routes," he said, welcoming the decision also
to modernise the aging fleet.
Anthony said the St Lucia government remains
firmly behind Liat which he said was essential for air
travel across the region. (CMC)
Wednesday, November 13, 2013 www.guardian.co.tt Guardian
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CASTRIES---St Lucia has called for a shake-
up of the financially strapped regional air-
line, Liat, as it agreed to guarantee EC$3
million loan for the airline now undergoing
a modernisation of its aging fleet.
"It s not just a matter of changing the
chief executive officer but dealing decisively
with a problem in management that has been
inherited over the years," said Prime Minister
Dr Kenny Anthony.
The airline, which last week had been
forced to cancel many of its flights because
of a strike by pilots, has been without a chief
executive officer since Trinidadian Ian Brun-
ton resigned in September.
Anthony, who is also the finance minister,
said there was also a need for a complete
overhaul of the airline s business model ito
ensure its long term sustainability and rec-
ommended a revision of operations and logis-
Anthony said Liat, which flies to more
than 21 destinations daily, must stop operating
in a traditional manner believing that the
only two bases it can have in the region are
Antigua and Barbados.
"It has to rethink for example where is it
in its best interest to have its maintenance
facility, these are questions that loom very
large and it can t any longer be a question
of historic entitlements where Governments
are putting money," Anthony said of the air-
line, whose shareholder governments are
Antigua and Barbuda, Barbados, Dominica,
and St, Vincent and the Grenadines.
Castries has now become the fifth regional
court to have a stake in the airline that in
September signed a US$65 million loan with
the Barbados-based Caribbean Development
St Lucia calls for Liat shakeup
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