Regional airline LIAT is expected to record 9.2 million EC dollars in losses at the end of this year.
Dr. Ralph Gonsalves, Chairman of LIAT’s Shareholder Governments, made this disclosure at a media conference yesterday, following a closed-door meeting at the Lloyd Erskine Sandiford Centre in Barbados.
The airline’s budgeted total revenue for 2016 was 318.8 million EC dollars. Dr. Gonsalves said for the current financial year, the cash-strapped carrier made a net profit f EC $5 million (BDS $3.7 million) up to August.
During the media conference, he outlined planned reforms for the struggling airline, including the cutting of some “nonperforming” routes, customer service improvements and customer training.
He also disclosed that current shareholder governments have asked three other regional governments to become “partners” in the airline – St. Lucia, St. Kitts and Nevis and Grenada.