AIRPORT REPORT: BERMUDA “Our biggest challenge is to get the government to
understand that the new airport terminal building is a revenue opportunity as opposed to simply being a capital expenditure,” he muses. “As soon as we can successfully make that argument, I think we will get some positive response in terms of how soon we can move forward.” Adderley admits that he is interested in meeting with anyone
interested in investing in BDA at the upcoming ACI World Assembly/Latin America & Caribbean Regional Conference and Exhibition in Bermuda. He says that the airport is already drawing up a list of
names for the government of interested parties who would welcome the idea of putting money into new infrastructure at LF Wade International Airport. One big challenge to the process is the unknown political
environment the airport will be working within as Dr Ewart Brown, premier of Bermuda and minister of tourism and transport, is retiring from politics at the end of October. While he championed and advocated for the new airport project, his successors views are yet to be determined. “My leading objective after the new minister is identified is to sit
down with them and outline what we propose to do with regards to a new airport terminal,” states Adderley. “I also want to talk about some of the funding options that could
be made available to us and explain why the terminal would present a good revenue opportunity for Bermuda.” Three individuals are vying for the post, one of which is deputy
premier, Paula Cox, whom pundits posture as the frontrunner. With Cox, familiarity is there and BDA may not necessarily be starting from scratch as with the other candidates. “We will see which of those individuals succeeds at the
BDA’s general manager, Aaron Adderley. These entities fall under other development costs associated with
the airport terminal itself, however, the new terminal, reworked roadways and airfield interface approach between them have an estimated price tag of $446 million. BDA’s general manager, Aaron Adderley, reveals that the airport is
in the process of seeking investors for a potential public-private partnership while a number of political factors hampering the progress unfold. “There is no denying that the process has slowed a bit, but
fortunately it has not slowed completely, and the new terminal is still very much on the radar,” insists Adderley. “The facility is, however, now behind the development of a new
hospital in the government’s priority list. Since Bermuda is not in a position to tackle too many critical capital projects at the same time, we will almost certainly have to attract new private investors in order to make the dream of a new terminal a reality.” Adderley, who notes that another key project is the construction of a new bridge to connect the island on which the airport is built to the main island, is adamant that it is his responsibility to provide the government with different options on how to move forward.
end of October,” comments Adderley, noting that the new minister’s first official remarks will most likely be made at the ACI conference as he or she will likely have been appointed the day before the opening event. So who are the potential new investors? Adderley refuses to reveal
any names at this stage although he somewhat teasingly says that BDA has received “expressions of interest from companies and airports within the United States that are in the business of building or managing airports overseas”. He also admits that HNTB’s involvement with the master
plan has stimulated a lot of interest in the project and led to a string of potential investors approaching the airport rather than the other way around. “HNTB has been integral in opening some doors,”
enthuses Adderley. “A number of companies have approached us about investment options as a direct result of HNTB’s involvement in the project. That says a lot about them and a lot about BDA’s potential. “As a result of those initial contacts, we have had face-to-face
meetings and telephone conferences with a number of different investment entities to talk about their interest in the project.” Over the past five years, Adderley says BDA has developed a
strong relationship with HNTB. “We hope to continue moving forward as we secure funding and
start to build the airport itself,” says Adderley. “We were fortunate with this most recent hurricane that we didn’t get the storm surge we
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