$7M profit for LIAT impossible
Jan 23, 2013
ST JOHN’S, Antigua – A month after projecting it would make a “modest” $7 million profit in 2013, LIAT says such an achievement is no longer possible.
The company had hinged its profit making ability on complete re-fleeting that got off to a late start, due to a lack of funds and reconstruction of aircraft records destroyed in a blaze seven months ago, which LIAT failed to quickly complete.
Management now hopes to break-even year-end – which it considers would still be a significant achievement, since the airline has been hemorrhaging millions in recent years.
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