Air Peace, Africa’s largest private carrier has agreed to enter into a joint venture with Antigua and Barbuda to improve its investments in LIAT 2020 Ltd.
Air Peace has a fleet of over 38 aircraft and over 3000 employees, serving markets in Africa, the Middle East, China, Israel, and India.
The government said both countries are expected to invest in the Antigua-based airline through cash and other assets. Reports are that Air Peace will acquire the majority stake in LIAT 2020.
The hope, according to the government is to bridge the gap and respond to the high demand for inter-island connectivity in the Eastern Caribbean.
The statement from the Office of the Prime Minister said that the new LIAT 2020 will provide “safe and reliable air transport services to passengers and cargo across the region and beyond”.
Meanwhile, E.P Chet Greene, said his government is committed to the “revitalization of the carrier and welcomed Air Peace chairman, Allen Onyema’s continued interest in investing in the airline”
LIAT 2020, is the brainchild of Prime Minister Gaston Browne, following the fall of LIAT 1974 Ltd. He believes that LIAT can be reorganized; an idea that has not been receiving backing from the other shareholder governments,
LIAT is owned by Antigua and Barbuda, Dominica, Barbados, St Vincent and the Grenadines (SVG).