Regional carrier LIAT owes its staff some $94 million in severance and holiday payment, which Prime Minister Hon. Dr. Ralph Gonsalves, said it is unable to pay.
“The number may be smaller, but if you are dealing with just the existing collective agreements, you’re looking at 83.9 million in severance payment and there are people who have vacation pay and for all the countries, it’s another $10 million in vacation pay, so you are talking about $93.9, call it $94 million,” Gonsalves said.
He said LIAT is “insolvent, LIAT doesn’t have any assets to pay anybody anything.”
On Saturday during a meeting involving the shareholder governments, Antigua and Barbuda, Dominica and St.Vincent and the Grenadines, a decision was made to liquidate the airline, which had been in a financial struggle for years.