SINT MAARTEN (GREAT BAY) - The Honorable Prime Minister Dr. Luc Mercelina has today formally announced the position of the Council of Ministers (COMs) concerning the potential sale of WINAIR shares, following an in-depth discussion during the Third-Party meeting on Tuesday, August 27, 2024.
The Prime Minister expressed gratitude for the insights provided during the assessment of the potential impact of the sale of WINAIR shares. He clarified that the initial decision regarding the sale had been made by the previous Council of Ministers without adequate communication with WINAIR, and the current government has thoroughly reviewed this situation.
“We must acknowledge the tremendous resilience and operational success of WINAIR in the face of significant challenges,” said Dr. Mercelina. “The airline has made a remarkable recovery after the devastation of Hurricanes Irma and Maria and has successfully navigated the impacts of the COVID-19 pandemic. The leadership and staff of WINAIR have shown extraordinary dedication, and their efforts have resulted in an impressive financial turnaround for the company.”
After careful deliberation, the Council of Ministers has reached a unanimous decision: the sale of WINAIR shares will not proceed. The Prime Minister emphasized the rationale behind this decision, highlighting both the strategic importance of WINAIR to the country's infrastructure and economy, and the airline’s current robust financial position.
“We firmly believe that the proposed sale price does not reflect the true value of WINAIR, and to sell under these circumstances would not be in the best interest of either the country or the company,” Dr. Mercelina stated. “We are committed to ensuring that WINAIR continues to thrive and expand, in line with its promising outlook for the future. The decision to retain our stake is based on careful analysis of what is best for the long-term prosperity of Sint Maarten.”
Prime Minister Mercelina reiterated the Council’s commitment to fostering continued collaboration between WINAIR and the government, underlining the importance of ongoing communication to ensure the airline’s sustainable growth and contribution to the country.
“We deeply value WINAIR as a strategic partner in our development,” added Dr. Mercelina. “We look forward to continued proactive communication and collaboration between WINAIR and the Government seeing WINAIR achieve even greater heights in the coming years.”
The Council of Ministers expresses its full confidence in the Management and Staff of WINAIR and anticipates continued success for the airline as it moves forward.
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