Bahamasair (UP, Nassau International) is due to receive another BSD32 million Bahamian dollars (USD32 million) in state subsidies in the 2022/2023 fiscal year, with a further BSD40 million (USD40 million) budgeted for the next two years, according to the government's 2022/2023 draft estimate of revenue and expenditure.
According to preliminary forecasts, the state carrier will receive BSD21 million in 2023/24 and BSD19 million in 2024/25.
This comes on top of the government's actual expenditure on Bahamasair of BSD78.2 million in 2020/21 plus a revised approved estimate of BSD30 million, totalling BSD108.2 million. Expenditure between July 2021 and March 2022 was just under BSD21 million.
By December 31, 2021, the company had arrears, unpaid invoices, and an un-budgeted expenditure of BSD24.2 million.
As previously reported, of the USD30 million previous allocation, USD20 million was to be used to fund loans for Bahamasair's ATR - Avions de Transport Régional fleet, while the remaining USD10 million was allocated to assist the Bahamas' Family Islands.
The carrier's fleet comprises three ATR42-600s, two ATR72-600s, one B737-500, and two B737-700s, according to the ch-aviation fleets module.
Earlier this year, deputy prime minister and minister for tourism and aviation, Chester Coope, disclosed that the Bahamasair Board had been mandated to present a strategic plan that would improve efficiencies and tourism arrivals. He said that the government would spend BSD2.5 billion in tourism infrastructure investments, including upgrades to Family Islands airports and Freeport International.
