CASTRIES, St Lucia, The S. Lucia government has made good on its promise to pay compensation to former employees of the cash-strapped regional airline, LIAT (1974) Limited, with Labor Minister Dr. Virginia Albert-Poyotte advising them to use the benefits wisely.
“Do not just blow it up in one day but use the economics women use. Women are very good at managing money,” she said.
The Office of the Prime Minister said that the approximate compensation package for the former LIAT employees, as well as that of a garment company, Majestic Industries, exceeds EC$6.3 million (One EC dollar=US$0.37 cents).
The former local LIAT employees received bond certificates last weekend from the government, which are cash redeemable and can also be used as collateral to secure loans.
“I know you have waited a long time,” the minister said, thanking the former LIAT employees for their patience.
LIAT (1974) has since gone into liquidation after more than four decades of operation in the region. Prime Minister Phillip J Pierre said that his administration had agreed with the non-management LIAT workers here that the company’s closure had terminated.
The airline is owned by the governments of Antigua and Barbuda, Barbados, Dominica, St Vincent, and the Grenadines (SVG). Antigua and Barbuda Prime Minister Gaston Browne said previously that a decision had been taken that would allow Barbados and SVG to turn over their shares in LIAT to St John’s for one EC dollar.
Albert-Poyotte noted that in addition to the former LIAT employees, former Majestic Industry workers who have been waiting for almost 18 years for compensation would also get terminal benefits.
“Within these hard times, the Prime Minister would tell you – it was not an easy decision. However, because we understand the plight of these workers, the government had no choice,” she said.
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