Caribbean aviation: four international companies shortlisted for US Virgin Islands PPP developments
While the US has found great difficulty in leasing its airports on the mainland that has not been the case in its 'territories.'
In Puerto Rico the privatisation of the main airport in San Juan by lease through a PPP (P3 in the US) a decade ago has been surprisingly successful.
Now the US Virgin Islands, also an unincorporated territory, is moving ahead with its intention to redevelop the two main airports there, again by way of a PPP and that project has attracted international interest from well qualified bidders.
Also in the Caribbean, The Bahamas has a PPP project to develop multiple small airports and there are other dormant projects elsewhere.
While M&A activity in the sector generally is slow that is not the case here.
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