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The story of Caribbean aviation connectivity began in 1956 when entrepreneurs L.W. Magruder and Frank Delisle established Leeward Islands Air Transport Services (LIAT) with a temporary permit from the Colonial government. What started as a single-engine aircraft operating from Delisle’s backyard airstrip in Montserrat would evolve into a vital regional carrier serving numerous Eastern Caribbean islands.

During its formative years, LIAT operated under the stewardship of British West Indian Airways (BWIA), which provided substantial financial and operational support. Between 1962 and 1970, BWIA absorbed management costs and guaranteed loans while LIAT accumulated debts exceeding $5.6 million. Despite this support, BWIA recognized by 1971 that LIAT’s expansion requirements exceeded its financial capabilities.

This realization prompted BWIA to sell its 75% stake to British company Court Line Limited, marking a significant departure from its policy of maintaining West Indian ownership. The transition included safeguards allowing Caribbean governments future participation. However, Court Line’s bankruptcy in 1974 forced eleven Caribbean nations to intervene, forming LIAT (1974) Ltd with regional government ownership.

The airline persisted for decades with various aircraft configurations until the COVID-19 pandemic precipitated its collapse. Following months of operational struggles and unsuccessful bailout negotiations, LIAT (1974) Ltd ceased operations in January 2024 and entered liquidation.

In a remarkable revival effort, Antigua and Barbuda partnered with Nigerian carrier Air Peace to establish LIAT 2020 in July 2020. The new entity features a 70-30 ownership structure, with Air Peace securing citizenship through Antigua’s Investment Programme to satisfy CARICOM ownership requirements. The partnership involved $85 million in combined investments and leased E145 aircraft from Air Peace.

Despite this rebirth, significant challenges persist. The FAA’s Category II rating for the Organization of Eastern Caribbean States prevents LIAT 2020 from operating routes to US territories. Additionally, high airport charges and taxes continue to hamper regional air connectivity, presenting ongoing obstacles for the revitalized carrier’s sustainable operation.

PORT OF SPAIN – Trinidad and Tobago’s business community concludes a tumultuous 2025 marked by three prime ministers, multiple states of emergency, and global economic shifts, now facing a new suite of fiscal measures effective January 1, 2026. The government has implemented a series of revenue-generating initiatives including bank asset levies, rental income surcharges, and increased energy costs for commercial users, alongside heightened traffic fines for public compliance.

Confederation of Regional Business Chambers President Vivek Charran characterized these measures as a ‘necessary evil’ given the government’s precarious fiscal position. In an exclusive interview, Charran revealed that upon taking office in May, the administration discovered a $4.42 billion budgetary shortfall, forcing month-to-month operational funding.

The new tax structure targets specifically thriving sectors including property development and food and beverage industries. Commercial banks and insurance companies now face a 0.25% asset levy expected to generate $575 million annually. Landlords must register with revenue authorities, facing 2.5-3.5% surcharges on rental income that should yield at least $70 million. Industrial electricity consumers will pay an additional $0.05 per kWh, contributing approximately $269 million to state coffers.

Despite these burdens, business leaders express willingness to support taxation if accompanied by improved government services and reduced bureaucratic obstacles. Charran emphasized that diversification efforts remain hampered by inefficient licensing processes that can take years for basic permits like farming certifications.

The private sector maintains cautious optimism according to recent chamber surveys. Over half of executives reported worsened financial performance in recent months yet remain confident about medium-term investment prospects. Employment expectations show cautious expansion intentions despite persistent structural challenges.

Opposition figures warn the government’s revenue projections may be overly optimistic, with former Finance Minister Colm Imbert predicting a potential $7-10 billion deficit rather than the official $3.8 billion estimate, citing inaccurate oil price assumptions and unbudgeted expenditures including public sector wage increases.

Business leaders now await tangible improvements in public service efficiency following recent public sector compensation increases, hoping 2026 will bring both fiscal stability and operational reforms to support economic diversification.

Trinidad and Tobago’s business sector entered 2026 with significant apprehension as multiple government-mandated cost increases took effect on January 1st. The sweeping changes include doubled customs declaration fees from $40 to $80 and substantial increases in container examination fees, with 20-foot containers now costing $750 (up from $375) and 40-foot containers rising to $1,050 (from $525).

The pharmaceutical industry expressed particular concern, with Pharmacy Board president Dr. Andrew Rahaman warning that these increases would exacerbate already rising medication costs. “The population could do with some relief,” Rahaman stated, emphasizing that essential medications should be exempt from such increases. He explained that additional landing costs would inevitably be transferred through wholesale suppliers to pharmacies and ultimately to consumers.

Glenwayne Suchit, President of the Private Pharmacy Retail Association, noted that while large conglomerates could absorb the increased fees, many importers would likely use them as justification for further price hikes. Suchit revealed that stakeholders would meet with customs officials and health authorities on January 26th to address monopolistic practices and price transparency issues.

Manufacturing representatives joined the chorus of concern. TT Manufacturers Association CEO Dr. Mahindra Ramdeen acknowledged the importance of border security but warned that the increased costs would “disproportionately impact the manufacturing sector.” Various business chambers amplified these concerns, noting the cumulative effect on small and medium enterprises already struggling with multiple cost increases.

The automotive sector faced separate challenges with adjustments to the Motor Vehicles Act that raised import age limits for CNG vehicles to eight years. TT Automotive Dealers Association president Visham Babwah warned consumers about the pitfalls of older vehicles, citing potential quality issues and emission concerns. While supporting a fairly implemented 30% quota increase for stakeholders, Babwah called for revisions to minor traffic fines, suggesting grace periods for minor repairs.

Despite the widespread concerns, some business leaders acknowledged the government’s need to balance operational costs. TTCSI president Dianne Joseph emphasized that “revenue increases must be matched by service improvements,” urging enhanced efficiency at ports. Couva Point Lisas Chamber of Commerce president Deoraj Mahase reported early improvements in customs processing times, suggesting that faster clearance could offset some increased costs.

The business community now awaits the practical implementation of these changes, with many stakeholders conducting impact assessments and advocating for balanced enforcement that considers both economic realities and necessary regulatory improvements.

TRINIDAD AND TOBAGO – As the nation enters 2026, the Trinidad and Tobago Coalition of Services Industries (TTCSI) has issued a compelling mandate for transformative leadership and governance reform within the country’s crucial services sector. TTCSI President Dianne Joseph declared that the era of informal operations has conclusively ended, emphasizing that compliance must now be recognized as a competitive advantage rather than a regulatory burden.

The services industry, described as the ‘heartbeat’ of Trinidad and Tobago’s economy, faces a pivotal moment requiring rigorous recalibration rather than mere reflection. Joseph’s vision centers on establishing corporate governance excellence as the sector’s defining characteristic, moving beyond transactional relationships to build trust-based ecosystems.

Critical to this transformation is what Joseph terms ‘the new breed of leader’—executives who demonstrate visible commitment to excellence beyond titles or boardroom positions. This leadership paradigm requires courage to innovate while maintaining disciplined adherence to evolving regulatory frameworks, including recent legislative changes such as the Finance Bill 2025.

The TTCSI advocates for a fundamental rethinking of organizational structures, emphasizing clear separation of powers between boards, management, and staff. The board’s role must remain strictly strategic and fiduciary, while management focuses on tactical execution, and staff deliver technical and administrative functions. This clarity, Joseph argues, is essential to prevent organizational chaos and ensure accountability.

Continuous director development emerges as another cornerstone of the reform agenda. The coalition challenges the dangerous fallacy that board appointment marks the end of learning, insisting that directors must pursue ongoing education in emerging areas including ESG standards, financial oversight, and AI ethics. Static knowledge, in today’s rapidly evolving business landscape, renders directors liabilities rather than assets.

The TTCSI plans to spearhead this educational thrust through strategic partnerships with key institutions, providing members with tools to professionalize governance structures. The organization will encourage member firms to conduct internal audits ensuring their leadership teams actively add value rather than merely occupying positions.

Joseph’s vision positions Trinidad and Tobago’s services sector as an international benchmark for corporate governance, where members are sought not only for technical skills but for their reputation as ethical, well-governed partners. This transformation, she concludes, requires moving from ‘business as usual’ to ‘business at its best,’ honoring the trust of stakeholders through distinction, clarity, and unwavering commitment to excellence.