BWIA suspends share trading

BWIA yesterday announced that after discussions with the Stock Exchanges and Securities Exchange Commissions in TT and Barbados, the Board of directors of the airline has made a request to those Stock Exchanges to temporarily suspend trading of the airline’s shares on the respective Stock Exchanges.

In accordance with this request, the Barbados Stock Exchange has suspended trading in the shares effective  Monday January 19, until further notice. According to a release from BWIA, the airline is awaiting a formal response from the TT Stock Exchange. The suspension is one phase of a wider restructuring exercise for the airline and will facilitate any necessary shifts in the equity levels held by various shareholders while not impacting on the daily operations of the airline.

The Board of directors and management of BWIA, the release stated, remain committed to the growth and development of the airline and will recognise that further restructuring is a necessary step to continue taking the airline forward. The Board, it said, is confident that with the continued support of loyal customers and business partners, coupled with an expected growth in customer base, BWIA will maintain its position as the premier airline of the region. This suspension of share trading is a temporary but positive step in the restructuring process and will in no way affect daily operations, the release continued, assuring all passengers, shareholders and employees that all destinations will continue to be served at regular scheduled times.