Liat Signs Loan Deal with CDB
In an effort to continue its aircraft re-fleeting and modernizing process, regional airline LIAT, during a very special and historic ceremony, signed an agreement relating to a loan of US $65 million from the Caribbean Development Bank (CDB).
LIAT has spent US one hundred million dollars, for the fleet of 12 new ATR 72-600 aircrafts, in order to provide a very essential service to Caribbean travelers.
For 57 years LIAT, with the support of a few shareholder Governments, has survived the slings and arrows of outrageous misfortunes.
In its quest to connect the English, French, Spanish and Dutch Caribbean people, scattered among 21 countries, the airline defied predictions of its collapse, by those who have themselves failed to stay on course.
According to Mr. Jean Holder, Chairman of LIAT, by 2012, the frequent breakdown of the existing twenty-year-old LIAT aircraft, had made it difficult to fulfill the demands of a schedule, designed in response to the demands for service requested by the Caribbean countries.
This resulted in poor on-time performance and constant dissatisfaction of customers. A re-fleeting committee was therefore established in 2012 to examine what needed to be done.
Ultimately, after considering several factors, the fleet committee recommended that the best decision was to change the entire fleet.
He noted that by mid-January 2014, thanks to the additional loan, seven of the 12 new aircrafts will be available, to provide the public with a better and more comfortable air transportation service.
Mr. Holder added they are also aware that, the stresses and strains of the summer have tested the quality of their customer service. He said they are hard at work with a number of expert agencies, seeking to achieve the desired standards.
With the help of the new aircraft we hope to increase the number of passengers transported via LIAT exponentially.