The BVIAA was responding to criticism from the VI Airlink pilot, Neville Brathwaite Jr who criticised the authority’s decision to start building and renting hangar spaces to airlines. The previous and cheaper arrangement was that VI Airlink was able to lease or own land at the airport for up to 25 years.
In its response on Thursday, the BVIAA said it “has been mandated to be prudent in the management of its operations so that it reduces the burden on the treasury.”
“Meeting this directive means having to develop and optimize aeronautical and non-aeronautical revenue streams. Rental of hangars is one source of aeronautical revenue that most airports around the world rely on for income, and the BVIAA is intent on responsibly managing this asset when construction is completed,” the authority added.
The BVIAA said since their hanger stock at the Beef Island-based facility was destroyed, rebuilding from the ground up became the only option.
“The then Board of Directors and Management opted to make the best of the unfortunate situation and to design a rebuilding programme that takes into account the intentions for expansion and upgrade of the facilities at Beef Island and which falls into the scope of the master plan for the new airport infrastructural development.”
“The new and present Board of Directors and the Management team inherited certain arrangements already in place, but made a decision to go a step further and to execute a plan that would facilitate resilience, expansion of revenue generation capacity over the long-term, and cater for demands over the next 50 years,” the statement added.
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