SVG pays US$2 million to re-fleet air carrier LIAT
February 5, 2013
SVG pays US$2 million to re-fleet air carrier LIAT

St Vincent and the Grenadines has paid its quota of the bill for 2013 to re-fleet regional air carrier LIAT.{{more}}

Prime Minister Dr Ralph Gonsalves made the announcement a press conference at Cabinet Room yesterday, saying that the money was paid on Friday.

“I have already paid on February 1 the balance of our moneys for 2013 for our portion of the planes,” Gonsalves told the media.

“So I am not waiting,” he said.

This follows on the announcement at a LIAT shareholders meeting last year that the process of replacing the existing aircraft is expected to begin by the middle of this year.

Gonsalves, at a press conference in December, announced that it had been agreed that 12 new aircraft would be acquired — five purchased and seven leased — and that the total estimated cost of the new aircraft was US$23.3 million.

The local government was required to contribute US$2 million and paid EC$3.8 million in November 2012. (DD)