CDB’s Slow Movement on Sales Agreement is Keeping LIAT 2020 Grounded
The Caribbean Development Bank is being blamed for the delay in getting LIAT 2020 off the ground.
Even though the airline has received its Air Operator Certificate, it is unable to start scheduled flights.
That’s because the CDB has yet to finalize the sale agreement which has been under review for an extended period.
Finance Minister and Prime Minister Gaston Browne emphasized that the revised sales agreement is not a new document and expressed frustration over his unsuccessful attempts to reach CDB’s Acting President, Isaac Solomon, for several weeks.
“The government placed about $12.1 US million in escrow to purchase three aircraft, and what is holding us back is that the Caribbean Development Bank has been vetting the sales agreement for over two weeks. I don’t understand why a sales agreement has to take so long,” a seemingly frustrated Browne said
Browne is hopeful that the agreement will be finalized this week.
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