Airport:— A two-year negotiation by the Princess Juliana International Airport (PJIA) to settle an insurance claim following the passage of Hurricane Irma in 2017 is finally resolved, with Airport CEO, Mr. Brian Mingo, taking receipt this week of a settlement amounting to more than $70
Million.
The settlement amount was agreed upon since August last year, however, bondholders restricted the proceeds, seeking certain guarantees about the reconstruction. The bondholders were holding onto the funds until they were satisfied with other funding for the reconstruction provided by the World Bank and the European Investment Bank (EIB) that was secured by the
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