More financial support invested into the regional airline, Liat.

Government will make another financial contribution to the regional airlines, Liat.

Prime Minister Hon. Roosevelt Skerrit confirmed this at a recent press conference. He affirmed that Government has already invested three million dollars in the regional airline, an investment, the Dominica leader explained, which is in the best interest of nationals.

He further explained in detail efforts by regional Governments to support Liat.

“One of the things that we’re discussing with Liat at present that we have not finalized yet, but I have agreed to it in principle subject to the approval of the Parliament is that Liat is seeking to contract a loan from the Caribbean Development Bank (CDB). However, Liat itself cannot enter into a loan agreement with the CDB so it will require share holder Governments to guarantee portions of the Liat investment.  The proportion we will have to guarantee as a government is about $2.5 U.S. million for Liat.  Liat will service the loan but we will simply guarantee the loan.

The Government of Venezuela has also expressed interest in investing in the regional airline company.

A draft agreement has already been provided to shareholders for their consideration.

“I believe it is an absolutely good move if we were to get Venezuela to invest in Liat to provide Liat with the much needed financial and technical support that it requires. It could also mean additional business for Liat. If we could get Conviasa to service flights from Brazil and from Venezuela and all the Latin and South American countries and transport them to a hub in the Caribbean and then take them to their respective destinations within the Caribbean then it means additional business for Liat.”

According to the Prime Minister further dialogue is expected to take place between Dominica and Venezuela.

“We intend to continue these discussions with the Government of Venezuela in respect to the draft agreement, MOU, which was sent for consideration.  There are some aspects of it which I believe are clear and straight forward but there are other aspects of it which will need further discussions among ourselves as the existing shareholders first and then to raise them with the government of Venezuela.