Antigua and Barbuda’s Prime Minister, Gaston Browne, has urged former LIAT workers to accept the government’s offered ‘compassionate payments’ as LIAT 1974 faces imminent liquidation.
The move aims to facilitate a seamless transition to the new entity, LIAT 2020.
The Prime Minister clarified that after purchasing assets from LIAT 1974, estimated at $12 to $13 million, the funds would be directed to the Caribbean Development Bank to alleviate plane-related debts.
Consequently, there would be no surplus for severance payments.
The government has reduced the compassionate payment offer to 32 percent, citing the percentage of shares the Antigua and Barbuda government held in LIAT.
The upcoming airline, funded by Air Peace and CEO Allen Onyema, will have a 70-30 percent shareholding split with the government.