Shareholder Governments of LIAT will again pump an additional 5 million dollars into the regional air-carrier, this time to register losses for another year.
This is according to chairman of LIAT’s shareholder governments and Prime Minister of St. Vincent and the Grenadines, Dr. Ralph Gonsalves.
Reports are that the financial shortfalls of the carrier this time around are however estimated to be far less than in previous years.
According to Airline Chairman Dr. Jean Holder this would mean a significant turnaround of the company’s financial fortunes in 2016.
A 5 million dollar net profit was reported up to August however Holder added that losses could amount to 9.2 million by year end.
The projected loss is a major improvement to last years’ losses which amounted up to 57 million due to severance and Dash 8’s payments.