Larry Howai, Trinidad & Tobago's Finance Minister, has declared that a merger of Caribbean Airlines (CAL) and (LIAT) is not likely to occur at this time.
The suggestion of a merger was recently made by Dr. Ralph Gonsalves, Chairman of the shareholder governments which own LIAT.
Mr. Howai, the line minister for CAL, told Trinidad's Business Day newspaper that the matter was not under consideration by the airline.
But Trade Minister, Vasant Bharath said although both airlines have had their share of financial troubles, he was willing to have further discussions on the issue.
CAL has been recording significant financial losses while LIAT, which is also strapped for cash, has begun a redundancy programme, under which 180 employees will be released.
Dr Gonsalves, who is Prime Minister of St. Vincent & the Grenadines, threw out his merger proposal while in Port-of-Spain last week attending a conference.
He provided two reasons to justify his proposal — deepening regional integration, and the fact that LIAT has acquired a new fleet of ATR aircraft.
comments powered by Disqus
.jpg)
All feeds
