The Cabinet of Antigua and Barbuda has indicated that the British entrepreneurial magnate, Sir Richard Branson has shown interest in investing in the financially challenged regional airline, LIAT.
This was according the Chief of Staff within the Office of the Prime Minister, Lionel Hurst, who made the revelation yesterday at the weekly post-Cabinet press briefing.
According to Hurst, discussions held with the British capitalist involved growing the struggling air- line out of its situation, with the hope that it would become a profit-making enterprise.
According to the Cabinet notes, LIAT would have to enlarge its fleet and add other aircraft types.
Hurst said, “The entrepreneur has proposed in- vesting several million dollars. He would wet lease several aircraft, jets, and they would fly from Fort Lauderdale to Jamaica, Haiti and down into Antigua and Barbados.
Meanwhile, the government of Antigua and Barbuda is continuing its discussions with Barbados to purchase that country’s shares in the regional carrier. Hurst said Barbados has indicated that its shares in LIAT have been a burden on the country, which is currently going through an International Monetary Fund (IMF) restructuring program.