Bermuda airport could be privatised
Authority, according to a report commissioned by Government.
The Way Ahead , compiled by YVR Airport Services Ltd., claims that efficiency and cost effectiveness of the Airport would be substantially improved if it was taken out of Government's hands and run on a commercial basis by a board of directors.
"Although the Authority would emphasise a business management approach, its top priority and objective would remain the safety and security of airport users,'' the report says.
"The Government would continue to own the airport and maintain its responsibilities of national and strategic interests but would no longer have the operational responsibilities.
"One of the Government's principle objectives for Bermuda International Airport is the achievement of financial self-sufficiency for Airport operations, including both operating and capital costs.
"Self-sufficiency would create a business environment conducive to attracting private capital to finance future development without recourse to the Government.'' Transport Minister Wayne Furbert said: "In June, 1995 the Bermuda International Airport transferred its operations from the US Navy to the Government.'' "While considerable gains have been made in the last two years, it's time to plan for an Airport management structure which will be poised to take the airport into the 21st Century.
"Government's overriding considerations will be to enhance the Island's position as a premier travel destination, to provide Airport users with effective and modern services and to develop the Airport to be financially self-sufficient.'' PRIVATE HANDS -- Government plans to create an independent authority for the Airport.
Graphic file name: PRIVAIR
