Cash Flow Woes At LIAT
Jun 25, 2013
ST JOHN’S, Antigua – Following last weekend’s fanfare and celebration surrounding LIAT’s acquisition of the first of eight new ATR aircraft, cash flow problems resulting from the re-fleeting exercise have surfaced.
LIAT management warned staff that June salaries may be paid late because of “severe cash flow constraints” – a direct result of shareholder governments’ failure to keep their promise to finance the purchase of LIATs new fleet.
CEO Ian Brunton also put the various unions representing LIAT workers on alert last week that salary payments for June may be up to a week late.
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