Inter-Caribbean airline Liat Ltd only has enough cash to function for the next 10 days and will face a shut down if Caricom does not intervene. The faltering airline needs an immediate cash injection of some US$5 million to keep flying,
Prime Minister Dr Keith Rowley said after returning from the 30th Caricom meeting in St Kitts and Nevis.
Speaking moments after landing at the Piarco International Airport, Rowley told the media that the Liat shareholders said they needed to act with urgency in order to keep the airline afloat.
Trinidad and Tobago is now signed on to CARICOM’s Multilateral Air Services Agreement.
Prime Minister Dr Keith Rowley signed the agreement on Wednesday, the second and final day of the 30th Inter-sessional Meeting of the CARICOM Heads of Government in St Kitts and Nevis.
The CARICOM Multilateral Air Services Agreement expands the scope for airlines owned by CARICOM nations to provide air services throughout the community.
T&T’s fishermen are warning that there may not be a supply of fish for the Lenten season as they are no longer able to absorb the losses they incur as a result of the higher cost of fuel.
Following Government’s decision to discontinue the importation of regular gas, which was the primary fuel fishermen used to power their vessels, the fishermen had to use the next best alternative; super gasoline.
But at $4.97 a litre compared to regular’s $2.60 per litre, the fishermen say this additional cost is too much to bear.
Public Utilities Minister Robert Le Hunte is denying that bloated executive bonuses or monies owed to TSTT by the state was the reason the company was forced to send home hundreds of workers.
This comes after it was revealed that the CEO receives a monthly salary of $180,000.
Six hundred and thirty-one employees were sent home as the company said it was operating at a huge loss and needed to restructure to stay competitive and to keep almost 1,300 jobs.