Editorial Staff
6 months ago

Editorial Staff
6 months ago

Antigua to Purchase Liat Brand Name

By Aabigayle McIntosh

 

Prime Minister Gaston Browne disclosed that LIAT 2020 will assume financial responsibility for the LIAT 1974 Limited brand.

Browne addressed the matter, assuring that LIAT 2020, the revived incarnation of LIAT 1974 Limited, will not be burdened by any lingering legacy issues stemming from the company’s downturn during the peak of the COVID-19 pandemic.

“We had to go to Air Peace; you think we wanted to go to Air Peace We went to all our OECS colleagues and told them 2020 would be a new entity and we would not have the legacy issues like 1974 yet still they speculating that people going to take us to court.

“I hear lawyers with this nonsensical thing that liabilities will automatically be transferred to 2020, impossible,” Browne said.

He explained further that 2020 will pay 1974 Limited for the brand name even though some may argue it has no value because the company is liquidating.

“We are prepared to pay for the brand name because we believe in the brand. Above and beyond that, barring a few chattel assets LIAT 1974 limited has no assets”, Browne said.

He also revealed that the Antiguan government will purchase the planes and make them available for 2020.

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