Three hours of debate, sometimes heated exchanges and a vote snatched by a narrow majority: Monday, October 6, the Territorial Council of Saint-Martin approved, to 8 votes in favor, 7 against and 5 abstentions, exceptional loan of 3 million euros , SEM Air Antilles. A decision made possible by the casting vote of the chairperson, Bernadette Davis, who replaced the president Louis mussington, prevented from sitting due to his chairmanship of the board of directors of Air Antilles.
“Let’s not clip our own wings”
“Tonight, we are not just voting on a budget, we are deciding whether Saint Martin will continue to have a voice in the Caribbean skies,” said Bernadette Davis. “Air Antilles is more than just an airline: it is a strategic bridge between our territories, a symbol of freedom and pride.”
Created in October 2023 after the liquidation of the CAIRE group, SEM Air Antilles is held at 60% by the Community et 40% by the EDEIS group via its subsidiary CIPIM. It operates four aircraft (three ATRs and one Twin Otter), ensures rotations between Saint-Martin, Guadeloupe, Martinique and Saint-Barthélemy, and employs 117 employees.
Accounts in the red
The Director General of Air Antilles, Samuel Braconnier, accompanied by the financial director Damien Ramel, drew up a worrying observation: 130,000 euros of available cash, and near 9 million euros of operating debts, with cash flow needs estimated at 1,5 million euros per month for Air Antilles. "Without this support, the company can no longer meet its current expenses. This loan is the condition to avoid cessation of payments," he argued.
Since the takeover, Air Antilles has had to devote more than 3 million to the maintenance of equipment inherited from the CAIRE group and the refurbishment of infrastructure. An additional €2 million will be allocated to the creation of capital, €6 million for the associated current account contribution, and €10 million to meet the obligations of the DGAC, for a total exceeding €20M (CIPIM contribution: €4,4 million). The company also suffered administrative delays : its transport certificate was not issued until May 2024, delaying the effective resumption of flights by several months.
Between skepticism and hope
In the ranks of the opposition, Daniel Gibbs denounced "a financial abyss", recalling that the Community has already injected more than 17 million euros. for two years. "We bought debt, not assets. This money belongs to the people of Saint-Martin," he lashed out. Jules Charville highlighted the uncertainties surrounding the prospective future investor, the PANAF group, citing “a risk of dilution of public capital without real guarantee”.
Faced with these criticisms, the general director assured that discussions with Corsair, Air France and Winair should resume after the renewal of the operating license for four months, obtained on September 30, 2025, until January 31, 2026. "We have carried 100,000 passengers since the beginning of the year, our punctuality rates exceed 90% and ticket prices have dropped significantly. But we need stability to convince our partners and investors."
A community under pressure
The Director General of Services of the Community, Natacha Pétrine, confirmed that the €3 million funding would be charged to the investment section : “Budget-wise, it’s possible, but our cash flow remains fragile.”
Payments will be made in three installments: 1 million euros upon signing, 1 million before the end of October 2025 and the 3rd million before the end of November 2025. The loan, with a duration of 26 months, will bear interest in the average bond rate (TMO).
Despite financial warnings and elected officials divided on the subject, some elected officials from the majority defended the project in the name of the regional opening up"Air Antilles is the freedom to travel, to study, to work," insisted Dominica Democritus Louisy.
A vote under high tension
Following the vote, the deliberation was validated thanks to the casting vote of Bernadette Davis, despite several abstentions in the ranks of the majority. At the territorial council of August 7, President Mussington had declared that the Community would not invest a cent more in Air Antilles. Last Friday, the date of the territorial council aborted due to lack of quorum, tensions were already palpable over the issue of additional funding for Air Antilles, a subject that was only whispered at the time. On Monday, this deliberation, which was not on the agenda, fell like a cleaver, but it will have allowed to bring more transparency to the file thanks to the intervention of the financial director.
For the moment, the Collectivity is giving its company some breathing space… but at the cost of a growing public debt and future still uncertain.
"History will remember the courage of those who chose to act," concluded the chairwoman, while several opposition representatives remained convinced that Air Antilles was only buying time before the next turbulence. _Vx
Source: Faxinfo https://faxinfo.fr/en/air-antilles-la-collectivite-vole-encore-au-secours-de-sa-compagnie/
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