Bridgetown.
LIAT recorded a $4.4 million dollar lost in the first five months of the year and is still reeling from an accident fire at its hanger last months.
These announcements were made yesterday at a press conference that followed a shareholders meeting attended by Prime Minister Freundel Stuart of Barbados, his counterparts Dr Ralph Gonsalves of St Vincent and Prime Minister Balwin Spencer of Antigua.
Gonsalves the chairman of the shareholders governments said that at the of May, the regional airline had recorded a net loss slightly below budget.
Gonsalves said he expected to see the company return to profit as a result of the company's decision to renew it's fleet.
Chairman of LAITJean Holder, told the press conference that following a a thorough investigation of the June 10 fire at the airline's hanger in Antigua, experts have concluded it was an accident.
"No arson or anything of malintent has been identified, in the rebuilding of the hangar we will certainly ensure that all the modern possibilities for anti fire and for protection are put in place", Holder said.
