LIAT sale ‘may not hurt economy’ – Central Bank

Central Bank Governor Cleviston Haynes is not predicting any harm to the economy should Barbados give up its majority shareholding in regional airline LIAT.

But as the Government offers its shares in the cash-strapped carrier to fellow shareholder, Antigua and Barbuda, Haynes appeared keen to see a sound footing for the airline which brings most Eastern Caribbean travellers here. 

He told journalists: “What needs to be resolved at the regional level is what structure LIAT is going to have going forward.

“I don’t envisage that there should be any negative impact from Barbados reducing its ownership share, but what is important for us is to make sure that we have a regional airline that can work efficiently for the benefit of the entire region.”

Barbados is seeking to give up most of its almost 50 per cent stake in the regional airline to its neighbour Antigua and Barbuda, which currently holds about a 34 per cent share.

The governments of St Vincent and the Grenadines and Dominica are the other two shareholders in the Antigua-based island-hopper.