Shareholder governments of regional airline LIAT have found themselves once again having to review plans for the viability of the airline.
This follows an announcement by Barbados that it would not be able to pay its full share to support the operations of LIAT.
Barbados’ current financial crisis had forced it into an IMF Stand-by Program to provide financial aid of US$290 million.
The government of Barbados is the largest shareholder government, holding 51 percent of its shares and approximately 60 percent of its human resource.
This week’s cabinet spokesperson, Melford Nicholas says the governments of the region have to now consider a restructuring plan.
The current position on LIAT came from a recent shareholder meeting in Barbados, this week.
Following that meeting, a strong case was made for the non-paying OECS countries to assume part ownership of LIAT so that the burden can be spread among all those countries that benefit from a subsidized airline.
A shutdown of LIAT will mean hundreds of job losses and indirect fall outs of other companies across the OECS