Beautiful Virgin Islands

Tuesday, Jun 03, 2025

BVIAA racks up $2M debt in less than 5 months

BVIAA racks up $2M debt in less than 5 months

Opposition Leader Marlon Penn recently expressed surprise when it was revealed that the BVI Airports Authority (BVIAA) racked up more than $2 million in debt in a little more than four months this year.

During the most recent sitting of the House of Assembly (HOA), Penn asked Premier Andrew Fahie the extent of the BVIAA’s indebtedness to vendors, contractors and individuals. Penn was then told the debt was $2,155,984.38 from January 1 to May 10, 2021.

Comparatively, the BVIAA’s debt for each of the last two years fell below $2 million for the entire calendar year.

Penn questioned the Premier about the apparent variance in the figures and asked whether the BVIAA was having challenges paying its bills for 2021.

“If it owes two million dollars in five months, it says to me that no bills were being paid,” the Opposition Leader said.

Financial challenges a global issue


The Premier replied that no institution in the world was without challenges with finances at this time.

“There are explanations for these [figures],” the Premier stated, “But those are totally different questions that would need to make sure that we come back with the answer totally.”

Premier Fahie further said those answers are very logical.

“But I prefer to have it directly vetted by the accounting staff at the airport and double-checked by the Ministry of Finance before I reveal what the answer is because I do have knowledge of what the answer is,” Fahie told the HOA.

Offering a further caveat, Premier Fahie said this year’s airline traffic was particularly unusual; slowing down and coming to a complete halt at one stage before resuming at a slower than usual pace – all because of the global pandemic.

He insisted this be kept in mind when considering any figures related to the BVIAA’s indebtedness.

Premier Fahie also informed the House that with no revenue coming into the port, the entity would have continued to be in a deficit.

“The BVI Airports Authority is faced with the challenges of maintaining a suitable revenue stream [needed] to keep them afloat,” the Premier said.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
×