Govt plans to restructure BWIA

Manning said after considerable deliberation on the findings of the Arthur Lok Jack task force (created to determine future options for BWIA), Government has decided to create a new national entity "using as a basis a restructured BWIA." Noting that attempts had been made over the last 45 years to restructure BWIA, Manning said those efforts had to be placed in the context of changes in the global airline industry.

"We are now in a position to complete a seamless transition from the existing BWIA to this new entity. This will involve the substantial invest of taxpayers’ dollars by the Government and a major departure from the status quo," Manning said. The plan to restructure BWIA will involve a recapitalisation of US$250 million to ensure the new entity has sufficient finances, the appointment of a new board chaired by Lok Jack to oversee the transition to the new entity, with Government maintaining its majority shareholding in the new airline "with a plan for further divestment to the private sector."

Manning expressed optimism that the new airline would serve as the basis to form a new airline in which regional governments and private sectors would be able to participate in through the purchase of equity. Speaking afterwards with Newsday, Trade and Industry Minister Ken Valley said the new airline would still be able to serve routes which BWIA already serves. He said the idea of a BWIA-Liat merger remains on the table for discussion. Aviation Communication Allied Workers Union president Curtis John said the union was happy with Government’s decision to restructure BWIA, and would seek a meeting with the relevant authorities to get specifics on the plan.

Works and Transport Minister Colm Imbert said he was "very satisfied" with the more than $700 million allocated to his ministry to improve TT’s infrastructure, with specific emphasis on flood alleviation ($200 million) and over $500 million for road repair and rehabilitation.

Manning also touched on plans to flush out all underground drains in Port-of-Spain, clear and de-silt all waterways, construct the Uriah Butler-Churchill Roosevelt Highway interchange, purchase a fast ferry for the Tobago seabridge when the lease on The Cat expires in April 2006, crackdown severely on unscrupulous land development in TT, aggressively pursue all spheres of the Inter- American Development Bank-funded National Highways Development Programme, and implement a US$15 billion mass transit system in TT to alleviate the gridlock on the nation’s roads.