Antigua Breaking News

Top Trusted News Source in Antigua

Search
Previous slide
Next slide

LIAT 2020 to take off in June

Share this article:

Facebook
Twitter
Pinterest
LinkedIn

LIAT 2020 is scheduled to take to the skies within the next four months as discussions enter the final stage with potential investors.

An advertisement yesterday outlined that LIAT 2020, which will be based in Antigua, is looking for experienced people to fill several positions crucial to the airline’s oprations.

Vacancies include CEO, captains, first officers, cabin crew, maintenance and engineering, information technology and ground operations.

Minister of State within the Ministry of Finance, Lennox Weston, said the airline will become a reality and, while he did not disclose names, he said several Caribbean governments have indicated an interest in being part of the carrier.

He added that discussions are also underway with potential private sector investors.

Indicating that a feasibility study revealed that Antigua and Barbuda can shoulder the financial responsibilities of the airline’s operations on its own following the restructuring exercise, Weston said the administration in Saint John’s does not intend to move ahead alone.

Be part of the conversation.

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

“We have about three governments who have already indicated their desire to participate and we are still in the final stages talking to two additional investors,” Minister Weston stated.

In the past, Prime Minister Gaston Browne proposed the creation of LIAT 2020 out of a restructured LIAT 1974 Limited as the alternative to liquidating the airline.

While the new carrier is taking shape, the issue of severance and other benefits claimed by former LIAT employees continue to linger.

More than one hundred workers have accepted the government’s compassionate payment – fifty percent of what they are owed – but many other former staff continue to hold out in the hope that their union will be successful in getting the government to settle on paying their severance and other emoluments in full.

But Prime Minister Browne has insisted there will be no further negotiations on the issue and he has reminded the ex-LIAT staff that his government was under no legal obligation to paying the former workers at all.

Even if the government was disposed to paying off the former LIAT workers in full, Minister Weston said that would require an investor with “deep pockets” who was willing to settle all outstanding debts estimated at more than $120 million.

This figure includes taxes owed to the goverment which he says will prove difficult. This means any hopes of former employees receiving what they are expecting will not materialize.

“If LIAT 1974 Ltd. doesn’t get that kind of level of investment, then it will be dissolved and the dissolution will take place based on the law when you dissolve a company and the benefits of the workers will be paid from the sale of the assets from LIAT 1974 Ltd.

“That is why the compassionate offer from the government we find quite attractive. But they have a different view. They believe that the assets will yield tremendous benefits and the government is trying to rob them of those benefits,” Weston added.

According to Minister Weston, LIAT 2020 is the government’s vision for a regional airline headquartered in Antigua, adding that LIAT 1974 Ltd. is owned by several governments and for which the receiver Cleveland Seaforth is still searching for investors.

“The Antiguan government is moving quickly ahead to form an airline LIAT 2020 that can viably and commercially provide services, which are essential to the VC. Bird Airport, and to our product and the tourism product of several regional governments.”

The establishment of the new airline will allow for a clean slate where the principals are expecting to implement a management structure that will be effective and profitable.

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]