London Daily

Focus on the big picture.
Saturday, May 31, 2025

Fahie details $158M improvement plan for Beef Island Airport

Fahie details $158M improvement plan for Beef Island Airport

The BVI Airports Authority (BVIAA) is presently working on a $158 million Capital Improvement Programme (CIP) that will completely transform the Terrance B Lettsome International Airport into a modern facility by 2025.

Delivering his address in the House of Assembly on Thursday, Premier Andrew Fahie said the programme will include improvements to the runway, taxiway, aircraft parking, terminal, car park and roadway. He said the designs for the project is expected to commence by October 2021.

He said the project would “permit tourists and investors to fly non-stop to the BVI not just from San Juan, but from anywhere in North America or western Europe such as New York, Toronto and London, just to name a few cities”.

“This programme must be our top priority for the territory and your government aims to ensure this,” Fahie stated.

Investment in airport projected to quickly payoff


Premier Fahie also said the CIP will require financial support from the central government but added that a preliminary Economic Impact Study showed that government’s investment into the project will quickly pay off.

He said: “The estimated number of jobs created by the airport directly and indirectly across the Virgin Islands is expected to multiply fivefold, from approximately 2,700 in 2019 to over 14,000 jobs in 2030. Correspondingly, as a result of the new airport improvements, the BVI tax revenues driven by the airport’s existence is forecast to rise from an estimated $12.6 million in 2019 to $61.7 million by 2030.”

“Looking to the future because of these airports and increased traffic, the British Virgin Islands Airports Authority is forecast to be operating at a surplus by 2028, no longer having to be subsidised by the central government as it has been over the many years. But first we must make the investment in the Capital Improvement Programme,” he added.

Additional $5 million injection needed annually


Fahie who is also the Minister of Finance further said the government will now have to pump millions of dollars of additional funds into BVIAA’s normal budget due to losses suffered by the organisation as a result of the COVID-19 pandemic.

“It’s important to point out that even without the new airport improvements, the loss of passenger and air cargo traffic due to the COVID-19 pandemic will require your government to infuse about $5 million a year in the airport Authority’s operating budget beginning next year,” he said.

“This does not include further government assistance for capital expenditures and technology and service innovations that must be made even as we await the opening of the new airport in 2026. The above $5 million annual infusion to the airport’s operating budget also does not include our commitment to Virgin Gorda to pave the runway there,” Fahie further stated.

More initiatives to come


Premier Fahie also revealed other plans the BVIAA has to further boost future revenues at the airport. He said the initiatives have so far included the issuance of two Request for Proposals (RFPs).

“One for the development of a new world-class fixed based operation to handle the many private and business jets that fly into Terrence B Lettsome and another for the development and operation of a commercial aircraft fueling operation for that airport,” the Premier said.

The two projects are anticipated to be operational by the end of 2021.

Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×