JIS News

Minister with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz, said that Jamaica has benefited from the airlift agreement with US Airways, despite the anticipated shortfalls.
He was addressing the post-Cabinet press briefing held on Wednesday (June 9) at Jamaica House.
The agreement, for the period December 17, 2009 to April 2010, provided for an increase in airlift out of the United States to Jamaica, to boost hotel bookings.
Cabinet, at its sitting this week, gave the go ahead for an additional US$1.44 million in funding to Jamaica Vacations Limited (JAMVAC) to support the anticipated shortfall under the agreement.
The sum, along with an amount of US$361,080 approved by Cabinet in August 2009, brings the full cost of the deal to US$1.8 million.
Minister Vaz, in the meantime, informed that a second Revenue Guarantee/Risk Sharing Agreement between JAMVAC and US Airways has also been approved.
He said that under this agreement, “the risk exposure will be capped at US$1 million for the period June 2010 to August 2011.”

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