The BVI Airports Authority will be introducing a number of initiatives to boost revenue, which has been declining at the Terrance B Lettsome International Airport.
The airport is expected to receive additional revenue through a prospective aircraft carrier slated to begin operations in the territory.
The new carrier is projected to bring a 25 percent increase in revenue to the airport.
Director of Finance for the Airports Authority, Canya Stoddard made the announcement when she appeared before the Standing Finance Committee recently.
According to the 2018 report on the deliberations of the Committee, other initiatives to boost airport revenue include increasing certain fees at the airport.
The BVIAA will be imposing administrative fees for ‘simple airport infractions’ such as security breaches, speeding on ramps, and being on ramps without a jacket.
“The increased fees were approved by Cabinet but the fees were not gazetted,” the Standing Finance report said.
Another revenue-boosting initiative is to have a commercial bank at the airport.
The bank will be used to ‘attract persons from neighbouring communities and outer islands to the airport’. The BVIAA hopes this will further cause persons to utilise other airport products or services.
While addressing the Standing Finance Committee, the BVIAA’s Director of Finance said the airport has been losing revenue even before the September 2017 hurricanes.
She said the net loss in 2016 was $1.1 million. The airport recorded additional losses of $1.2 million in 2017, pre-hurricanes Irma and Maria.
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