Sint Maarten Opts Not to Divest Stake in Winair

Briefly

Sint Maarten decides against selling their stake in Winair. Decision based on long-term prosperity analysis. Prime Minister Luc Mercelina announced the decision. Government is the largest shareholder with approximately 93% of the shares. Increased air connectivity with new flights to Martinique and Curaçao. Winair expands fleet and seeks IOSA certification and codeshares. Debt cleared with help from St. Maarten Government. Continued growth with new routes and expanded operations.

The government of Sint Maarten has made a strategic decision to retain its significant stake in Winair after a thorough evaluation of long-term benefits. Despite previous reports suggesting a potential sale, Prime Minister Luc Mercelina emphasized that keeping the majority share in the national airline aligns better with the island’s economic prosperity and future growth. This move comes amid Winair’s ongoing regional expansion and increased flight connectivity, which includes new routes and additional flights across the Caribbean.

Sint Maarten has decided to retain its stake in Winair after thorough deliberation. Despite contemplating the sale, the government concluded that maintaining control is crucial for the island’s long-term prosperity. This decision arrives amid Winair’s efforts to expand its regional connectivity and future growth trajectory.

Careful Analysis Leads to Decision

Prime Minister Luc Mercelina announced that the decision to retain the stake in Winair was based on a meticulous analysis of what would benefit Sint Maarten in the long run. The proposed sale price did not align with the island’s long-term financial interests. Consequently, the government chose what it deems best for the prosperity of its citizens.

The government of Sint Maarten, which holds approximately 93% of the shares in Winair, had been contemplating the sale for some time. However, after evaluating the proposed financial outcomes and broader implications, it was decided that retaining the stake was the more prudent course of action read more.

Improved Connectivity and Expansion Plans

Meanwhile, Winair continues expanding its services to enhance connectivity across the region. New routes and increased flight frequencies aim to boost travel and economic activities. For instance, the airline has recently launched new flights directly connecting Sint Maarten (SXM) to Martinique (FDF) and Dominica (DOM). This expansion allows for greater travel flexibility and convenience find out more.

The airline’s strategic route expansions also include new flights between Sint Maarten and Curaçao, set to commence on July 1, 2024. These additional flights will offer travelers more options and flexibility, further solidifying Winair’s role in the region’s air travel network click here for details.

Clearing Debt and Securing Future Growth

Winair has successfully managed to clear its debt, embracing a path toward sustainable growth. The support received from the Sint Maarten Government, including funds from the SSRP, has been instrumental in guiding Winair through challenging financial periods. The airline’s commitment to a promising future is evident as it eyes IOSA certification and potential codeshare agreements, further strengthening its operational framework see more.

Looking Ahead

By opting not to sell its stake in Winair, Sint Maarten secures a pivotal role in steering the airline’s future. This decision reaffirms the government’s dedication to ensuring economic stability and growth. As Winair expands its routes and services, the people of Sint Maarten can look forward to a thriving aviation sector that serves both their travel needs and economic interests.

Aspect	Details
Decision	Sint Maarten decides against selling a stake in Winair
Reason	Proposed sale price deemed insufficient
Prime Minister	Luc Mercelina
Stake Ownership	93% by Sint Maarten Government
Remaining Stake	Held by Kingdom of the Netherlands
Operational Focus	Increase in regional flight connectivity
New Routes	Direct flights to Martinique and Curaçao
Fleet Expansion	Winair continues to expand its fleet
Debt Status	Winair has cleared its debts
Government Support	Received support from St. Maarten Government (SSRP)

• Decision Reason: Based on long-term prosperity analysis
• Prime Minister’s Statement: Announced by Prime Minister Luc Mercelina
• Ownership: 93% Government of Sint Maarten, 7% Kingdom of the Netherlands
• Fleet Expansion: Winair expands fleet and regional connections
• New Routes: Launches new flights between Martinique and Sint Maarten
• Debt Clearance: Winair clears debt and plans for future growth
• Connectivity: Increasing flights to and from Princess Juliana Airport
• Financial Support: Secures an additional $1.5 million loan from the Dutch government