Business

Liat has only 10 days' cash to keep functioning

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.

T&T signs CARICOM Air Services Agreement

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.

'Higher fuel costs can affect supply of fish'

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.

Minister: TSTT CEO's $180,000 salary on par with others in industry

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.

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