Cabinet Extends Tenure of NMIA Enterprise Team

The Enterprise Team for the Privatisation of the Norman Manley International Airport (NMIA) will serve for another 20 months.

This follows Cabinet’s approval of the extension of the team’s tenure from July 2017 to March 10, 2019.

This was disclosed by Minister of Education, Youth and Information, Senator the Hon. Ruel Reid, during Wednesday’s (Aug. 2) post-Cabinet press briefing at Jamaica House.

The NMIA is owned by the Airports Authority of Jamaica (AAJ) and is operated by the NMIA Airports Ltd, a wholly owned subsidiary of the AAJ.

The Government is seeking a private sector partner to operate, finance, and develop the NMIA under a long-term concession agreement.

The selected party is expected to complete the modernisation of the airport, which is the second largest in Jamaica, behind Sangster International in Montego Bay.

The Enterprise Team, which was set up to examine the operations of the airport, recommended the divestment in light of the significant State funding and resources being expended to run the airport.

Senator Reid informed that new air services agreements have been secured with South Africa, Finland, Denmark, Norway, Sweden, the Republic of Seychelles, Italy and Portugal.

Meanwhile, a new chairman and additional members have been appointed to the Financial Services Commission (FSC) with effect from July 24, 2017 to April 24, 2019.
They are: Jackie Lechler – Chair; Kevin Richards; Nigel Logan; and Gerald Johnson.

The FSC was created pursuant to the Financial Services Commission Act to oversee the regulation of Jamaica’s insurance, pension and securities industries.