LIAT (1974) Limited and chief rival Caribbean Star Airlines Limited finalised and executed the deal for LIAT to purchase the assets of Caribbean Star Airlines this week following a year of negotiations that began last October.

The agreement, which was jointly announced by the companies, facilitates the immediate transfer of Caribbean Star's assets, excluding aircraft, to LIAT.

The final five aircraft currently leased by Caribbean Star will be transferred to LIAT in a separate transaction to be executed at the full cessation of Star's operation in two weeks.

Caribbean Star ceases flying on November 15, at which LIAT will begin operating the combined fleet of Dash-8 aircraft.

No interruption

"Customers should experience no interruption of their travel itineraries as a result of the transfer of aircraft and closure," said Skip Barnette, president and CEO of Caribbean Star Airlines.

The flight schedule will continue as published, and LIAT, which is run by CEO Mark Darby, will operate the flights formerly flown by Caribbean Star equipment and crews.

business@gleanerjm.com