The three Caribbean countries that own LIAT are exploring ways to finance the replacement of three 37-seat Bombardier Dash 8 aircraft.

The purchase would carry a price tag estimated at $54 million, according Ralph Gonsalves, prime minister of St. Vincent & the Grenadines.

Gonsalves met with counterparts from Antigua & Barbuda and Barbados earlier this month in Barbados to discuss the issue of new aircraft, the Antigua Sun reported.

He added that Bombardier and plane manufacturers from Brazil and China have shown interest in doing a deal with LIAT.