LIAT, has described as strategic a decision to sell and lease back one of the five new aircraft it bought.

The aircraft was bought under a US$100 million loan facility provided by the Barbados-based Caribbean Development Bank (CDB) in 2013.

CMC News reports LIAT’s chief executive officer, David Evans as saying that – “There is a transaction in the airline industry known as a sale and leaseback where you sell an aircraft and lease it back from a leasing company, and that’s what happened. We still have nine aircraft.”

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