Government will have to pay $2.75 million as the price for getting Bermuda Aviation Services Ltd. to waive its exclusive rights to offer private jet services at LF Wade International Airport, The Royal Gazette has learned.

BAS will be repaid $750,000 for funds invested in the pavement of apron 2 and will receive $2 million in compensation for loss of revenue for the exclusive fixed based operation after Government twice failed to convince the courts that it had not breached BAS's contract when it allowed a rival company to start offering the same services.

Government was previously ordered by Supreme Court to pay more than $202,569.16 in damages for contravening BAS's rights, which ran until 2014, by giving rival operator Sovereign Flight Support permission to provide a private jet service.

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