New Schedule to Fly at LIAT
BARBADOS, Bridgetown, January 5, 2007 - Discussions between LIAT (1974) Ltd. and Caribbean Star Airline, have reached another important milestone with the signing of the Memorandum of Understanding (MOU) between the share holders of both carriers.
Prime Minister of Barbados, the Rt. Honourable Owen Arthur, acting on behalf of the primary shareholders Antigua & Barbuda and St. Vincent met with Sir Allen Stanford recently at the Barbados Hilton hotel to solidify the arrangement.
The signing of the memorandum is the first step towards the merging of the two Regional carriers. The merger will begin with a code share agreement on February 1, with the total integration of the air carriers anticipated to follow shortly after.
Prime Minister Arthur noted that Regional air carriers needed to be rationalized and a situation would no longer be maintained where competing carriers fly the same routes within minutes of each other, with flights half full.
A plan has been devised to reduce the volume of aircraft jointly flying the region with an integrated, new and improved schedule. This new schedule will ensure that air transportation is adequately provided across the Region as we move into the Cricket World Cup 2007 period.
At a LIAT board meeting scheduled to take place on January 10, board members of the airline will discuss details of the merger.
Note to the editors:
LIAT is one of the leading Caribbean airlines operating to over 19 destinations.
LIAT is owned by regional shareholders, with the major shareholders being the governments of Barbados, Antigua, St. Vincent and the Grenadines and St. Lucia.
Within select Local Markets Call Toll Free at: 1-888-844-LIAT (5428)
In U.S.V.I. and Puerto Rico call 866-549-5428
From Antigua call 480-5582
All others 1-268-480-5601/2 (Call Center Antigua W.I)