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Benefits to SLASPA
- Asset ownership and regulatory control remains with SLASPA;
- Private concessionaire responsible for financing, construction and operation;
- Operations and maintenance risks transferred to the concessionaire during the concession period;
- Concession for a finite period (30 years), with the option to renew;
- Remuneration for SLASPA through annual concession fees (as a % of gross revenues);
- Performance managed through a concession contract that stipulates clearly defined performance standards and financial penalties for non-compliance.
Benefits to the Private Sector
- Potential for future growth in traffic;
- Low foreign exchange risks as airports generate substantial revenues in hard currency;
- High potential to improve airport amenities and increase commercial revenue;
- Ability to introduce operational efficiencies and improve financial performance;
- Opportunities may exist to develop auxiliary activities.
Benefits to the Government of Saint Lucia
- Reduction in risks related to airport project development;
- Potential for new revenue streams;
- Transfer risks related to operation and maintenance;
- Access to private sector financing, freeing Government budgets for other priorities;
- Introduces operational efficiencies;
- Retains ownership of strategic assets.