Prime Minister Dr. Ralph Gonsalves told Parliament yesterday that the Argyle International Airport has significantly improved its financial performance over the years.
Dr. Gonsalves said that in 2024, operating revenue rose to $28 million, and after accounting for operating expenditures of $18 million, the airport achieved an operating profit, before subvention, of approximately $4.05 million.
The Prime Minister noted that the Argyle International Airport (AIA) has been showing revenue growth, having overcome early challenges and is a capital project that has aided in the economic development of the country.
Dr. Gonsalves said that during the establishment of the airport, government projections indicated that the AIA would require financial support for the first four years of operations, as traffic volumes would initially be insufficient to cover expenses.
However, unforeseen disruptions, including the global COVID-19 pandemic, the explosive volcanic eruption of La Soufrière in 2021, the collapse of LIAT, among other issues, extended the airport’s dependence on government subventions.
Dr. Gonsalves also stated that, despite the early setbacks and increased costs, the airport is now a profitable operation.
The Prime Minister described AIA as “a transformational capital project,” and noted that its completion is a historic achievement for St. Vincent and the Grenadines (SVG) as it stands not just as an airport but as a beacon of national pride and resilience.
