~ Dutch wants to take over management of PJIAE in exchange for bridge loan. ~
PHILIPSBURG: --- Prime Minister Leona Romeo Marlin is currently negotiating with the Dutch Government to obtain a bridge loan for Princess Juliana International Airport (PJIAE). SMN News learned that Romeo Marlin informed the coalition partners about the ongoing negotiations to obtain Euros 50M. In exchange, the Dutch Government wants control over the board of directors of PJAIE and also a member of the management team of PJIAE. SMN News further learned that the Dutch are demanding that PJAIE hires the management of Schipol Airport to manage PJIAE if they are to grant PJAIE the much-needed loan.
SMN News further learned that the coalition partners are not in favor of what Romeo Marlin is doing and already told her that St. Maarten will not be selling out its patrimony to the Dutch for financial assistance.
It should be noted that Romeo Marlin also wants to lay off at least 49 of PJIAE employees as she makes room for the Dutch.
It is understood that it is because of these negotiations Romeo Marlin has refused to come to the aid of PJIAE by not granting them the much-needed letter of guarantee that the bondholders need before releasing the insurance money they are now in possession of.
Just last week the leader of Government Theodore Heyliger took to the media calling on is government to assist PJAIE with the letter of guarantee.
PJIAE has been in constant communication with the Council of Ministers to obtain the letter of guarantee but to date, they have not granted PJAIE that letter for the bondholders. If PJIAE does not get the much-needed financial injection or letter of guarantee for the bondholders then the planned move to move to the Terminal Building which is slated for December 15th will have to be put on hold.
Concessionaires operating at PJIAE said that they do not know how long more they could work under the tents as they have become shaky and is extremely hot even though there is air-conditioning in the tents. The concessionaires said that already management of PJAIE are doing the best they can to control the number of passengers is under the tent, however, this will become out of hand during the high season when more airlines will take off within close proximity of each other.
http://www.smn-news.com/st-maarten-st-martin-news/30541-exclusive-dutch-to-take-over-pjiae-for-euros-50m.html
