Trinidad to come to BWIA aid once again

17th Apr 2004

There are reports on the Caribbean News website that Trinidad is having to bail out flagship carrier BWIA once more. ‘Trinidad will inject 10 million dollars into BWIA and exchange 30 million dollars in debt for equity in the latest bailout of the airline, and it will also provide Eastern Caribbean $6.3 million dollars in loans to Caribbean governments that hold shares in LIAT airline to assist that cash-strapped carrier.
‘The debt-for-equity swap could result in Trinidad«s government increasing its 33.5 percent share in BWIA. The government will ask private shareholders to participate in exchanging debt for shares, but may do it alone if they refuse, Trade and Industry Minister Ken Valley said.’



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