Information Minister Melford Nicholas has confirmed that the government’s
transaction with Antigua Airways was incomplete, and as such no Citizenship by
Investment Programme (CIP) files (passports) were given to the principals of the
airline.
Ten (10) Antiguan and Barbudan Passports were to be given to the airline’s
financiers that would have represented a 20% stake in the carrier for the
government of Antigua and Barbuda, once final arrangements were completed for
it to operate commercially.
The Cabinet spokesman told reporters on Thursday, that the suspension of
operations while still in the charter stage, meant the Citizenship by Investment files
were not given to the Africans.
“The option, once the airline was established for Antigua to retain an equity
position, the route of utilising the funding through the CIP, would have been the
method of acquiring those shares. Neither option took place. Neither did the
government subscribe, because the airline was not effectively established, nor that
the files were made available to Marvelous Mike.”
The non-compliance of several regulatory requirements resulted in the government
suspending charter service between Nigeria and Antigua and Barbuda that was
inaugurated in November 2022.
Minister Nicholas pointed out that the transaction would have been completed once
the carrier was fully established. However, the prevailing circumstances mean
government has retained the 10 CIP files.
“I want to reassure you and the public that there has been no loss. Antigua had
never subscribed. The option was available to the Government of Antigua and
Barbuda once the airline was established. This venture of Antigua Airways
utilising the charter means as a precursor to the full establishment of the airline,
was I think, what the PM was referring to and with the adverse publicity that has
come with that particular venture, it is clear that that airline proposition would no
longer be feasible. So, there is no loss here to the government and people of
Antigua and Barbuda,” Minister Melford Nicholas assured.
