BARBADOS AND OTHER shareholder governments have agreed to pump a further BDS$3.7 million (EC$5 million) into regional airline LIAT, which is projected to register losses for yet another year.
However, the estimated shortfall is expected to be far less than in previous years, prompting airline chairman Dr Jean Holder to declare a significant “turnaround of the company’s financial fortunes” in 2016.
Up to August, there was a BDS$3.7 million (EC$5 million) net profit, but losses could amount to around $6.8 million (EC$9.2 million) by year-end.
Last year, losses stood at around $42.2 million (EC$57 million), half of which were attributed to the sale of Dash 8s and severance payments. (WILLCOMM)
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