Debt incurred for airport expansion will be paid by airport- Premier
According to Dr. Smith, air lift is a concern to the Territory. “Recognizing this we have already made a decision on the initial design of an extension to the Terrance B. Lettsome Airport, which will enable commercial jets to fly nonstop directly to and from the eastern seaboard of the United States, and for corporate class aircraft such as the Gulfstream V to fly directly to Western Europe,” Dr. Smith said in his budget address on January 17, 2012.
“Madam Speaker, you would also be interested to note that though debt will have to be incurred to complete this project, it will be repaid entirely from revenues generated from the airport itself, through an improved fee structure that depends on route - dependant levies and increased traffic.”
The Premier said Government has considered this initiative, because of the impact that it will have on “our tourism product and the ease with which our citizens will be able to travel to and from other parts of the world, as the single most important infrastructural project being introduced in this budget”.
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