Antigua and Barbuda Prime Minister Gaston Browne does not support a proposal for Nigerian carrier Air Peace (P4, Lagos) to take over the majority shareholding in cash-strapped LIAT (Antigua and Barbuda) (Antigua).

"We had a proposal from Air Peace. They have indicated an interest to purchase 75% of the shares in LIAT. But the governments in the region are interested in literally reviving LIAT and re-investing in LIAT. I think that would be a superior option because if you have an entity outside of the region controlling the majority of the shares, it would be just a matter of time before they price gouge us. We'd be looking at the regional approach, the regional option," Browne said during his "Browne and Browne" show on Point FM99.1 radio on July 23, 2022.

He said a meeting of Caribbean heads-of-state was scheduled for August 2 to discuss the way forward for LIAT and determine the airline's future structure.

"But in any event, we are pretty confident that LIAT will remain and we will be able to scale up by whatever combination of shareholders we choose; but my preference is for the shareholding to remain in the region so that we have regional control," he said.

Headquartered in Antigua, LIAT is owned by 11 Caribbean governments, with its major shareholders being Barbados, Antigua & Barbuda, St. Vincent & the Grenadines, and Dominica. The airline has been in court-appointed administration for the past two years to allow for its financial reorganisation. Browne has consistently advocated the rescue of the airline as the Government of Antigua and Barbuda seeks to take over and restructure the airline. He pressed ahead with placing LIAT into bankruptcy protection after Barbados and St. Vincent & the Grenadines voted to liquidate the ailing airline.

Antigua and Barbuda has put the cost of restructuring LIAT at XCD108 million East Caribbean dollars (USD39.96 million), of which 50% will come from the Antiguan and Barbudan government, with the remainder expected to come via other shareholder governments or even private investors. Still, the shareholding governments have not been able to agree on settling the airline's outstanding financial obligations.