‘Additional $15M Is Now Required To Be Paid’
Airport operator Skyport has submitted its latest minimum revenue guarantee certificate and an “additional $15 million is now required to be paid by the BAA to Skyport,” the Government said today.
A Government spokesperson said, “The Bermuda Airport Authority [BAA] recently confirmed that the L..F. Wade International Airport operator Skyport has submitted its latest minimum revenue guarantee certificate.
“An additional $15 million is now required to be paid by the BAA to Skyport. This funding will take the form of a further grant from the Government of Bermuda to the BAA. This is the second such payment, the first having been $5.7 million paid last month.”
Minister of Transport Lawrence Scott said: “This airport agreement continues to prove itself a bad deal for Bermuda. This payment further restricts the Government’s ability to help those Bermudians most in need during these challenging times.”
“But make no mistake, the people are our priority, and we will continue to do all that we can to make this bad deal a better one for the people of Bermuda.”
ok, so how much has been paid so far for this ?
Covering revenue shortfalls for the old airport seems ridiculous, when this is paid it will be at least 20 million.
So if we didn’t have a new airport contract and government was running the old airport how much of a profit do you think they would be making from the dozens of people that are travelling here after the lockdown? After they pay electricity, wages, health insurance, maintenance, landscaping, loan interest etc… they would be loosing millions a week anyway! Ask done the truthfil math comparison? I doubt it? Either they are intentionally misleading or stupid if they haven’t. Either way I’m concerned.
If the PLP decided to build the airport themselves as they planned how were they gonna pay for it. Because when they announced their plans to build it they never said how. They spent all the surplus money we had in their first 14 years. So would they borrow it? If not, tell us now? Tell us? Wouldn’t the payments, plus interest, minus loss of income from little to no travelers for 9 months equal the same or greater loss?
Those of you that want to support the current government and the convenient mistruths – that’s fine, just educate yourselves and know all of the facts and ask questions BEFORE following blindly!
Ask your PLP MP – how would you have paid for it, without borrowing more? Also , why are they so critical of the airport when they did the same deal with KEMH? How is that deal any different? If that deal was so good for Bermuda and would lower costs, why are you telling the public that we must reform the healthcare to stop skyrocketing costs?
Were you lying then about the Hospital deal being a good one, or are you lying now!
Why is 20 million a big number all of a sudden? 1.2 million to Dr. Brown, 60 million over budget for Berkeley construction, 20 million plus over budget for Port Royal “contract”? 20 million OVER Budget and the built NOTHING NEW. All they did was push soli around and replant grass! Sandys 360 cost us how many millions? How about BLME contract?
No talk from PLP about how many MILLIONS were spent to build the “Emissions Centre” at TCD and how many millions it cost to run it every year! After over a decade not one car or truck failed an Emissions test! Why? Because after more than a decade they had not determined a benchmark or way to TEST Emissions!
So Mr. Scott, you have heard this before…”you can fool some people sometimes, but you cant fool all the people all the time. Although it does help if you have a track record showing a failing education system.
$185 MILLION
Don’t forget the UBPobaer $185 million Morgan Point hotel you fools got us paying for. The UBPoba is that bad gift that keeps on giving.
Don’t forget the missing $800 million.
800 is a favourite number for your government
That was a PLP land grab using the public purse. The money was not due to be paid. PLP thought they were grabbing the whole of Morgan’s point for $185M, instead they were just buying Caroline bay. Educate yourself and stop being a muppet,
Really I am so tired of this propaganda.
First of all we have a brand new airport and if Bermuda would have paid for it it would have cost us well over $250 million dollars to build.
So please stop with the propaganda script.
This money is well spent and when the revenues increase and the Government split in the profits come through will you still be complaining?
As in business it goes both ways you share in losses and profit.
Make that $370 million spent on the airport so far.
So still 170million less than the 500 million what PLP were estimating and we all know that figure would have tripled by the time it was done.
The 500 mill in the proposed PLP Airport Plan included a transport centre including a Ferry stop, and a far more elaborate but Bermudian theme build, with more gates. That’s why it came in at more, but by the looks of this, we will end up paying the same with none of the “frills’ of the PLP’s planned design….pick the bones out of that.
There is no propaganda, it’s merely facts.
This sounds like you travel to a destination because they have a nice airport. You might be the only person on this Earth that does this.
Bermuda will be the same product with or without a new airport, it won’t be the airport that brings people into the island, it’ll be what offerings there are outside of it.
Actually $370 million spent on the airport so far
Bermuda is in a hole regardless
Everything to do with that airport has skyrocketed under the capable leaching of Skyport from landing fees and rents to fuel fees. This now also requires another layer of Government beaurecracy and cost to oversee all the charges that have to be paid anyway. All in all a 30 year economic disaster for the country. The OBA was rightfully fired for getting us into this mess.
Why do we never fire the plp for building an over $3B debt which is guaranteed to cost us millions of dollars per day in interest alone. Right now the airport looks bad but remember if the plp had built it we would have had to borrow the money (not going to mention that the price would have been double) and we would be paying all the expenses that Skyport are incurring. So although these headlines sound like a lot the expenses largely would have been payable regardless.
I’m confused does the government not understand how a loan works. You pay more than the amount loaned to you. We didn’t have a line of people ready to give us money for a new airport, so how can we complain about the deal. We have no money to build a airport which was needed for decades, so again I’m confused by this propaganda
Exactly. And people trust the PLP with the Govt’s finances. Madness.
I hear the americans may be pulling out there immigration process end of year?
We paid $5M here & there in the recent past, now $15M! The winter season has been here since May, so how many more $15M fees will come to next May!!!Sounds BAD with the type of deal back then!
Two questions: instead of paying $250 – 300 million one time for a new airport we have to pay a much smaller amount every year as long as the numbers of arrivals are over a certain number?
And for all the naysayers….what alternative method would you use to pay for this new airport and why has that never been presented?
What has the PLP done to recover the alleged $20m cost overrun at the Port Royal golf course? The COI seemed to find enough evidence of wrongdoing and a lawsuit was filed but quickly put on a shelf to gather dust. That $20m “would help the Government’s ability to help those Bermudians most in need during these challenging times.” Or $800,000 handed over in a recording studio scam, or the double payment of $860,000 made to Sandys 360.
At least the airport will generate income in future years. How much will depend on the skills of the Minister of Tourism, if he has time away from his other responsibilities.
On a related matter. hundreds of Bermudians were employed on this construction. The OBA gave Bermuda St Regis and the airport. When they finish the airport what will the PLP do to give them similar employment, or will more money be spent in financial assistance?
Sorry the PEOPLE are busy trying to pay for the $185 million Morgans Point Hotel you UBPobaers screwed us on. I heard JetGate left and now you have Horsegate,
The jetgate was a plane ride no money involved. Did not cost the taxpayers.
Morgan’s Point was a Cabinet decision. There were 5 billionaires who wanted to invest in Bermuda and would have saved the Morgan’s point deal but no Cabinet chose to make the taxpayer Pay.
The Truth ask your Cabinet ministers.
Let’s see give PRC to 5 billionaires or give the taxpayers $195 million debt ???
Absolutely a wrong decision was made.
JET GATE cost you the election and so did you. Your party is not coming back so get over it. Now we have 2 black voter base parties which is wonderful for Bermuda. You have 2 options join FDM or PLP.
Welcome to a beautiful new World not run by surrogates from the UBP aka OBA.
Stay Angry !
If you don’t already have ulcers and high blood pressure you surely will soon.
Ahhh, so it is all about race, while the country, including you, is being driven into poverty.
At least you have your priorities. Enjoy the empty stomach and the scratching around for crumbs.
It’s always been about race…and this is revenge. Destroying the entire island to get back at the minority, who may or may not be descendants of slave owners.
It’s working. Bermuda is no longer a player. Bermuda is known as a homophobic, and xenophobic third world country.
I don’t care about race as I am rich and life is great! Feel for the rest of you who blindly follow PLP into oblivion but you reap what you sow! Good luck!
The people will one day wake up to the fact that the PLP created $3bn in debt. Interest alone is $150m plus that would pay for a new airport in 2 years. What did the $3bn buy? Very little, mostly costs of the Government Employment project, a gift that gets bigger each year, yet produces less benefits.
Please repeat for the numpties!
Too bad the plp had $800 Million unaccounted for….there’d be no debt if they hadn’t been voted in.
That’s funny now they have to choose. Their own supporters didn’t even come out last election. RIP oba!
Stop moaning and get over it. The old airport was a dump and the first impression visitors got of their Bermuda experience was a tatty old terminal with terminal decor.
When tourism recovers (hmmmm BTA Caines??) just think of how better things will be for visitors to the island. Your experience starts from the moment you get off the plane.
I’m sick and tired of the myopic view of people, think long term and big picture. PLP and it’s supporters, there’s no way out of this deal unless you want to pay millions, so leverage it and use it to attract visitors to Bermuda.
why don’t they bleet about how much we HAVE TO AY our 3 billion dollar lenders monthly. or did this govt have a covid clause in that
Jet Gate cost Bermuda nothing in $. How much did Dr, Browns jetride cost us on Globalhues jet? What? You don’t want to talk about that? You know they were awarded 2 back to back contracts AFTER his jet ride?
185 million is a crazy amount but if you believe that the PLP will resurrect the economy any bring in investors, that land will be worth more in the next 5 years! Or do you not believe the hype?
Why you not upset about the Grand Atlantic deal? That’s is what started this whole mess! Inconvenient truth? 1.2 million to Dr Brown? No problem. Millions overbudget on Berkeley, TCD , Emissions, DLBE, Port Royal, Sands 360, Bermuda Land Development Scams and many more! But you didn’t hear about those? Or you choose to look the other way!
Is that the jet blue guy spewing again, definitly should be dealing with the buses..
Weren’t SkyPort supposed to build a swimming pool at the airport and are now not? Can’t we lop off a few million in lieu of the fact?
Are you confusing a simple water pond with an actual swimming pool , like the type people can go swimming in ? ?
“Weren’t SkyPort supposed to build a swimming pool at the airport…”
Did you feel stupid after you wrote this? You should.
The much touted ’30-6′ comes to mind .. (titter , giggle)
I’m still waiting to find out what the alternative to the current airport deal should have been since the naysayers know all about it.
Just don’t pay it!!!
” Bermudian theme build, with more gates.”
LOL, suckers!
How many gates do you think we need?
An island where the majority of the population hate foreigners…doesn’t need a very big airport.
The majority of us do not hate foreigners.
The majority of us are continually apologising to people like you for the perception left by a hateful minority
No bermudian has ever apologised to me.
LOL. Try again.
There is no point. Your mind is made up.