Airport Authority’s 2023-24 Annual Report
The Bermuda Airport Authority’s 2023-2024 Annual Report, which highlighted increased air connections, the launch of BermudAir and continued recovery in passenger arrivals, was presented in the House of Assembly on Friday [May 29].
Lawrence Scott, Chairman Bermuda Airport Authority, said, “The Bermuda Airport Authority’s vision and mission is to connect Bermuda to the world by providing safe and efficient aviation and weather services. From 1 April 2023 to 31 March 2024, Bermuda’s air connections increased with the launch of a new Bermuda-based airline, which also helped the recovery of the airport’s passenger arrivals since the 2020 global pandemic. During the period, the Airport Authority also commissioned a new instrument landing system to facilitate safe aircraft landings at Bermuda’s L.F. Wade International Airport.
“In September 2023, BermudAir, a Bermuda-based airline, departed from L.F. Wade International Airport on its inaugural flight to Boston’s Logan International Airport. BermudaAir is a private business venture and the first Bermuda-registered airline. By the end of the period, BermudAir had expanded its network to four additional U.S. cities, including Fort Lauderdale and Orlando, FL; Baltimore, MD; and Westchester, NY. The Airport Authority, its strategic partner Skyport, and Bermuda residents and visitors alike all benefited from BermudAir’s rapidly expanding network.
“Air passenger arrivals and airline seat capacity increased during the period compared with the previous period, with total passenger arrivals at approximately 80% of pre-pandemic passenger levels from 2019. However, the Bermuda Airport Authority continued to receive support from the Government for the Authority’s obligation under the project agreement between the Authority and Skyport, which guarantees Skyport minimum regulated revenues. During the period, Skyport was paid just over $350,000, compared with just over $10 million in the previous period. While this was a significant improvement, the goal is to eliminate guaranteed minimum regulated revenue payments to Skyport, which will be achieved with increased passenger volumes.
“Since the Airport Authority’s inception in March 2017, the Authority has received Government funds for capital development projects each year. During the 2023/24 period, the Authority successfully installed and commissioned an instrument landing system [ILS] at a total cost of just under $1 million. This critical aviation technology is the most popular and widely used landing aid for pilots worldwide. The Airport Authority team and vendor partners are to be congratulated on the project’s success.
“In closing, I would like to thank the Bermuda Airport Authority’s Board, management, and staff for their stewardship of L.F. Wade International Airport, including the essential aviation and weather services delivered directly by the Authority.”
The full Bermuda Airport Authority’s 2023-2024 Annual Report follows below [PDF here]:
