"Vancouver Airport Services wins Management Contract in Bahamas"

Thursday, February 10, 2005

Vancouver Airport Services wins Management Contract in Bahamas
Press Release
 

Richmond, B.C. - Vancouver Airport Services (YVRAS) has been selected as the
preferred bidder to negotiate a long term management contract for the
development and operation of the Nassau International Airport, Bahamas.
YVRAS was chosen from among four short-listed bidders after an evaluation
team analyzed detailed written submissions and senior officials from YVRAS
presented the company's credentials, operating philosophies and suitability
as a strategic partner during an interview process.  The contract will be
for 15 to 25 years depending on the negotiation of financial and commercial
terms. 

The Nassau International Airport is the fourth busiest airport in the
Caribbean, handling approximately 3 million passengers annually. Several
mega-projects are planned to enhance the tourism attractions of the Bahamas.
YVRAS will be responsible for introducing best practices, managing the
US$200mm construction program, enhancing commercial venues at the airport
and improving the US Pre-Clearance facilities and services. 

Frank O'Neill, President and Chief Executive Officer for Vancouver Airport
Services said "We are enthused about this opportunity to create an airport
that will bring pride to Bahamians and visitors. We have great experience in
establishing an airport experience that reflects local culture and brings
delight to all users.  We will focus on customer service, facility
development, air service marketing and in the creation of a pleasing airport
environment that complements the quality of the tourism product in the
Bahamas. This selection by the Government of The Bahamas reinforces our
reputation as the airport operator of choice in the Caribbean basin since
YVRAS will now be operating 14 airports in the Caribbean and Central America
region."  

Vancouver Airport Services is owned by the Vancouver International Airport
Authority and CDC Capital Partners. The company operates 20 airports in 7
countries including Canada, the Dominican Republic, Chile, Jamaica, Honduras
and Turks and Caicos.


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