Antigua Breaking News

Top Trusted News Source in Antigua

Search
Previous slide
Next slide

A new LIAT is possible

Share this article:

Facebook
Twitter
Pinterest
LinkedIn

By Bert Wilkinson : CARIBBEAN LIFE

If all goes well in the coming months a new, Antigua-based island hopper — LIAT 2022 instead of problem-plagued LIAT 1974 — will fly to regional destinations, bringing relief to several Eastern Caribbean island nations, which depend largely on air transport for tourism and basic purposes.

Gaston Browne, prime minister of Antigua, which has the largest employee and asset base of the old LIAT 1974 limited, is anxious to get a rebranded LIAT back in the skies across the region from Guyana in the south to islands in the central and Eastern Caribbean.

In the past week, the Antiguan government and CFA Global, a private Chinese company signed a memorandum of understanding with the firm taking an undisclosed amount of minority shares in the new company.

The plan is to re-fleet the company, possibly with Airbus 330s and 320s in addition to the newer French-made ATR turboprops, which had been a staple aircraft for LIAT 1974 before its spectacular collapse two years ago.

Browne told listeners on a weekend call-in program that the idea is to get planes back in the air flying to former destinations as far south as Trinidad and Guyana. It is unclear whether neighboring Suriname, a fellow CARICOM member nation, is also in the plans of those in charge.

Be part of the conversation.

Let us know what you think by adding a comment below. Click here to start now!

Beset by debt, high salaries and being forced to fly to non-profitable routes among other issues simply to service shareholding member nations, the carrier collapsed under the weight of mounting debt, perennial squabbling by shareholding Caribbean governments and pressure from labor unions to meet compensation packages for hundreds of employees.

The situation, of course, was not helped by the COVID-19 pandemic, which had shuttered airports around the world and had severely restricted air travel.

“We still have at least two entities that are negotiating with the administrator to become shareholders within the LIAT company.

It may have to be a new company because when you look at what is happening presently, the threats that are made, the demands that are made by past staff, members of staff and the union, I am not even sure now that LIAT 1974 Limited will be viable so there may have to be a LIAT 2020, recapitalised and start as a new entity,” PM Browne said.

Because of its base in Antigua, its large employee base and other forms of vested interests, Antigua has been leading regional efforts to ensure there is a viable island hopper available to the Eastern Caribbean in particular even as Barbados and St. Vincent have virtually given up on the airline because of its slew of problems.

Others like Dominica and Grenada have pledged to invest cash in any new entity that takes to the skies. LIAT 1974 limited has been carrying debts at close to $100 million.

The collapse of the carrier has meant that air captains, flight attendants, engineers and other staff have yet to receive their full amount of severance pay.

The airline pilots association has repeatedly stated that some of its members are destitute, have lost homes, endured the stress of broken marriages, while others are engaged in menial jobs just to survive while leaders and others haggle over severance packages.

Make a donation to help support ABN, via PayPal: [email protected]. Follow Antigua Breaking News on Twitter @ABNAntigua and Instgram @AntiguaBreakingNews and on Facebook. Send us a message on WhatsApp at 1-868-704-9864 or email us at [email protected] 

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

Share this article:

Facebook
Twitter
Pinterest
LinkedIn

Join the Conversation!

Comments are closed.

REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]