Fast Ferry Service Will Bring Greater Returns than Investing in LIAT
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Contact: Adhara King
Friday, April 18, 2008 – Minister for Tourism and Civil Aviation, Senator the Honourable Allen Chastanet thinks government will receive more returns on investment in a fast ferry service than in regional airline LIAT.
Minister Chastanet says it is pointless to invest into a corporation which has failed to provide a solid and viable investment plan. He says government is willing to enter into joint marketing with LIAT, but this hasn't satisfied the airline, which insists on receiving funding into its company.
“The funding that American or British Airways is receiving or that we consider putting in, is in joint marketing, or to get a route off the ground. The funding that Mr. Darby (LIAT's CEO), is talking about is us putting money into LIAT as a corporation. And as I said, if you're going to ask for our country to invest into LIAT, I need to know what we're investing in,” said Chastanet.
Minister Chastanet suggests the introduction of a fast ferry service will create an affordable alternative for individuals wishing to travel within the region. He also sights the cargo carrying capacity of the fast ferry as a necessity for regional economic integration.
The Tourism Minister notes: “The planes - and given the size of the markets and the facilities that we have - will never be able to carry cargo in a substantive way. When we talk about economic integration within this region, one of the things that clearly has been lacking, is the ability for us to be able to carry cargo afford ably and on a reliable basis and on an inter- regional basis.”
The cost of inter-regional travel has more than doubled ever since LIAT merged with former rival Caribbean Star. Caribbean Star has since moved out of the picture, leaving LIAT, with what many refer to as, an unneeded regional monopoly. |
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