(Barbados Nation) LIAT said yesterday it could no longer run a charity airline as it announced that it was cutting back on flight frequencies to several loss-making destinations.
The revelation came as the airline’s chief executive officer Ian Brunton announced a new business plan hinging mainly on a complete fleet change as well as new markets.
Executives hope that the measures, which are both structural and asset-based, will help the company reverse its current losses and record a profit of EC$7 million (BDS$5.1m) next year.
As he disclosed details of the plan to regional journalists at a news conference at the Antigua and Barbuda Hospitality Training Institute in St John’s, Brunton said LIAT had already begun to ring the changes.
