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Failed LIAT To Be Reborn As LIAT 2020 Ltd With US $15-20 Million Investment

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A new entity is already in the works to replace failed Caribbean airline LIAT. (www.gatechecked.com) Mehr...

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keithhadden
Keith Hadden 2
Who, in their right mind, would want to attach "2020" to the name of anything?
shoalwaters
Mike Webb 2
A desperate Prime Minister who wants to resurrect the old Liat and keep it's base of operations in his island?
bimjim
Jim Lynch 1
LIAT failed because of political interference for the last 50 years, COVID bankrupted the shareholder countries and made it impossible for them to keep propping it up with hundreds of millions of dollars.

LIAT's air fares were not that high, but government taxes and fees (cash cow source of revenue imposed by the same politicians) raised the total paid by a passenger from between 150% and 250% of the original air fare.

In addition, LIAT -- a PUBLIC company owned by the taxpayers of several countries - has not published annual accounts for well over 40 years, suggesting that politicians (and possibly management) used it as a ready source of large cash amounts for their own personal purposes.

Over the years management trie3d several times to use employee pension funds for operating capital (when they ran out of money every few months), but the courts always denied them. So instead of taking it out they stopped putting the employee and company contributions in, the amount owing I heard at one time was in excess of US$10 million.

Over and over again aviation, airline and tourism industry leaders advised the politicians privately and publicly that LIAT could not continue to be a political football, and that it needed privatising - or at least commercialising - but every advice and request was ignored.

So when it comes to sharing the blame, first do a dertailed audit of LIAT's accounts for at least the last 40 years for who took how much and when, then go to the same politicians wringing their hands now over LIAT, slap them twice across the face, and make them publicly accountable by voting them out of office. But be careful they are not replaced by yet another lying, thieving, ignorant, greedy self-serving bastard who cares nothing for his/her country and everything for his/her own wallet/bank account.

I. Gone

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