Fixing the old airport wouldn’t be cheap – and it still would be an old airport.
Bermuda would need to borrow $184 million for critical maintenance and improvements in the first two years alone.
Taxpayer money would also be required to pay expensive yearly maintenance costs.
To completely refurbish the old terminal would cost almost half a BILLION dollars, as Bermudians and visitors transit through a construction zone for years.
The old terminal will continue to deteriorate.
• It will still be vulnerable to sea level rise and hurricanes;
• It will still be without a passenger boarding bridges to get travelers to and from an aircraft, avoiding the elements;
• It will still not be wheelchair friendly;
• It will still be difficult to maintain global aviation safety standards required of air terminals;
And, the cost of renovating the existing airport terminal will increase Bermuda’s national debt.
Renovating the existing terminal exposes Bermuda to crippling cost overruns and could mean another airport shut down should we experience another Fabian-type storm.
Read the executive summary on the Airport Redevelopment Procurement options.
Read the complete report about the financial characteristics of various procurement options available for the Airport Redevelopment Project (the “Project”), and the benefits of the procurement option selected relative to the most viable alternatives.
Watch the video: On Borrowed Time
Watch the video: The Best Option for Bermuda