{"id":261522,"date":"2021-01-08T00:01:49","date_gmt":"2021-01-08T04:01:49","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=261522"},"modified":"2021-01-08T00:05:16","modified_gmt":"2021-01-08T04:05:16","slug":"antigua-barbuda-spending-half-a-million-dollars-a-month-to-keep-liat-flying","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/antigua-barbuda-spending-half-a-million-dollars-a-month-to-keep-liat-flying\/","title":{"rendered":"Antigua &#038; Barbuda spending half a million dollars a month to keep LIAT flying"},"content":{"rendered":"<figure id=\"attachment_240738\" aria-describedby=\"caption-attachment-240738\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-240738\" src=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2019\/12\/LIAt.jpg\" alt=\"\" width=\"600\" height=\"400\" srcset=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2019\/12\/LIAt.jpg 600w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2019\/12\/LIAt-300x200.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><figcaption id=\"caption-attachment-240738\" class=\"wp-caption-text\">LIAT aircraft<\/figcaption><\/figure>\n<p style=\"font-weight: 400;\">Antigua and Barbuda is currently dishing out almost 17 thousand EC dollars per day to keep regional airline LIAT airborne.<\/p>\n<p style=\"font-weight: 400;\">The colossal figure was revealed during a post Cabinet press conference held in St Johns on Thursday.<\/p>\n<p style=\"font-weight: 400;\">The money is coming from resources borrowed over a year ago for the purpose of re-capitalizing the airline.<\/p>\n<p style=\"font-weight: 400;\">A sub-committee of three ministers &#8211; Robin Yearwood, Molwyn Joseph and Lennox Weston &#8211; has been formed t track LIAT&#8217;s\u00a0 \u2013 namely\u00a0 \u2013 who will be tasked with tracking LIAT\u2019s progress.<\/p>\n<p style=\"font-weight: 400;\">They will be meeting with decision makers and reporting back to Cabinet in the coming weeks.<\/p>\n<p style=\"font-weight: 400;\">Information Minister, Melford Nicholas, gave further details on the costs that LIAT is currently racking up.<\/p>\n<p style=\"font-weight: 400;\">He said the monthly payments amount to\u00a0approximately $500,000 a month.<\/p>\n<p style=\"font-weight: 400;\">\u201cSo, over the next three months we would expect that we are going to be able to up the ante. By the time we get to the window where we have identified a suitable partner, the cost may run approximately $4 million to $4.5 million,\u201d the information minister disclosed.<\/p>\n<p style=\"font-weight: 400;\">He said the funds are available but management is fundamental at this time.<\/p>\n<p style=\"font-weight: 400;\">\u201cThe funds are available and it\u2019s the whole question of managing it effectively and dealing with the other operational challenges that we have with respect to LIAT going forward,\u201d Nicholas added.<\/p>\n<p style=\"font-weight: 400;\">The minister said the government still has the bulk of a 15 million US dollar loan from the ALBA bank in Venezuela at its disposal to help fund LIAT. The money is being held in an escrow account.<\/p>\n<p style=\"font-weight: 400;\">He said talks with prospective investors are also ongoing.<\/p>\n<p style=\"font-weight: 400;\">In the meantime, the Antigua and Barbuda government is shouldering the financial burden alone.<\/p>\n","protected":false},"excerpt":{"rendered":"Antigua and Barbuda is currently dishing out almost 17 thousand EC dollars per day to keep regional airline LIAT airborne. The colossal figure was revealed during a post Cabinet press conference held in St Johns on Thursday. The money is&#8230;","protected":false},"author":15,"featured_media":240738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[272,11,235,9],"tags":[],"class_list":["post-261522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation","category-general","category-homepage-carousel","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Antigua &amp; Barbuda spending half a million dollars a month to keep LIAT flying - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/antigua-barbuda-spending-half-a-million-dollars-a-month-to-keep-liat-flying\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Antigua &amp; Barbuda spending half a million dollars a month to keep LIAT flying - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"Antigua and Barbuda is currently dishing out almost 17 thousand EC dollars per day to keep regional airline LIAT airborne. 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