That Winair was able to repay its US $4.5 million loan from the Dutch government taken out at the height of the COVID-19 crisis (see related story) confirms the local carrier’s recovery. It was provided after St. Maarten as majority shareholder allowed property occupied by Winair at Princess Juliana International Airport (PJIA) to be used for collateral.
The condition had been at least two flights per day each to St. Eustatius and Saba, on behalf of which the Netherlands has a minority stake in the airline. This limit was not only met but surpassed with up to four on selected days of the week and plans to maintain such frequency for most of the year.
This, despite competition from the Makana that received another one million euros in Dutch subsidy for ferry service to the two islands during 2024 and 2025, according to a report in Tuesday’s edition. It turns out the sea- and air-traffic products are of such a different nature they complement each other.
Management rightfully mentioned the assistance of payroll support made possible by liquidity financing government received during the pandemic from The Hague. That kept both the public and private sectors going.
Winair recently also celebrated using “own” aircraft to operate the so-called ABC islands (Aruba, Bonaire and Curaçao) route instead of in a wet-lease with Air Antilles. If the current setup proves more lucrative it should enhance future prospects for the carrier that has once again – with a little help – demonstrated its viability.
