In the year 2024, St Vincent’s Argyle International Airport achieved an operating gain prior to subvention amounting to 4.7 million dollars.
On Monday, Prime Minister Ralph Gonsalves articulated that should profits maintain this upward trajectory, the necessity for any subvention in the foreseeable future could be rendered moot.
In the year 2017, the operating revenue amounted to $11.5 million, while the operating expenditures reached $16 million.
Gonsalves indicated that there was a subvention totalling $7.4 million, alongside a deficit of $2.8 million, which included depreciation and salaries, among other expenses, also amounting to $7.4 million in 2017.
Gonsalves said that during the establishment of the airport, government projections indicated that the AIA would require financial support for the first four years of operations, as traffic volumes would initially be insufficient to cover expenses.
However, unforeseen disruptions, including the global COVID-19 pandemic, the explosive volcanic eruption of La Soufrière in 2021, the collapse of LIAT, among other issues, extended the airport’s dependence on government subventions which totaled $11.6 million.
In the year 2024, the AIA reported an operating revenue of $23 million, alongside expenditures totalling $18 million, which included salaries that reached $11 million.
Gonsalves indicated that the outstanding debt associated with the Argyle International Airport has now diminished to below $170 million.
