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    March 18

  • 01:21 PM

GAIA to offer workers shares

BGIS,

Added 13 December 2018

grantley-adams-international-airport-110418

The Grantley Adams International Airport (FILE)

Workers at the Grantley Adams International Airport Inc. (GAIA) are being offered the opportunity to become shareholders in an arrangement which will also see the airport being run by a concessionaire.

In a meeting with the workers on Wednesday, Prime Minister Mia Amor Mottley revealed that significant infrastructural work was on the way for the airport and Government was in talks with the private sector arm of the World Bank, called the International Finance Corporation, and about to conclude an agreement.

She disclosed that the proposed structure, which was yet to be formally approved by Cabinet, would allow Government to retain ownership of the airport, while issuing a concession to “an outside entity that will be bid internationally”.

She said this was being done to allow for significant expansion of the airport, including the addition of just under 30 000 square metres in order for Barbados to become “the hub of choice for the southern cone”. (BGIS)

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