LIAT airline signs US$65m loan deal to finance fleet upgrade
Published:Saturday | August 10, 2013 | 9:19 AM
The shareholder governments of the regional airline, LIAT, yesterday signed a US$65 million loan agreement with the Barbados-based Caribbean Development Bank (CDB) as the cash-strap airline seeks to upgrade its aging fleet.
The loan represents 61 per cent of a $100 million re-fleeting exercise being undertaken by the Antigua-based regional airline that is replacing its Canadian Dash 8 fleet with French made ATRs.
The signing ceremony comes against increased criticism of the airline by the travelling public in recent months with long delays, numerous cancellations and lost baggage being the norm.
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