06042020 BUSINESS

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THURSDAY, JUNE 4, 2020

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‘No difficulties’ over $150m airport raise

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

T

HE government “sees no difficulty” in securing private financing to kickstart the bulk of its “over $150m” Family Island airport redevelopment ambitions, a senior official told Tribune Business yesterday.

Algernon Cargill, director of aviation, confirmed that the Minnis administration will this year continue pursuing a private-public partnership (PPP) to fund and manage overhauls to multiple key Out Island

• Govt still pursuing Family Island upgrades • Taking ‘deep dive’ on local financing offer • Three bidders contesting Exuma airport

ALGERNON CARGILL

airports despite the fiscal constraints caused by the COVID-19 pandemic.

Pointing out that the required capital is not reliant on the government, Mr Cargill said his office was working with the Ministry of Finance to “take a deep dive” into one Bahamas-based financing source whom he declined to identify.

He added that the three bids submitted for the

$40m-$50m upgrade of Exuma’s airport, complete with terminal and runway expansion, are now being evaluated with the winning bidder on 18 months’ of construction work expected to be selected before 2020 year-end.

The aviation chief said the necessary investment will have “a huge multiplier effect for the economy”,

SEE PAGE 4

Bahamasair eyes 20% summer capacity cut

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

BAHAMASAIR yesterday said it is planning a 20 percent cut to its summer schedule after incurring $18.5m in revenue losses and unfunded costs due to the combination of Hurricane Dorian and COVID-19.

Tracy Cooper, the national flag carrier’s managing director, told Tribune Business that the nearly three-month pandemic lockdown had forced the airline to incur $10.5m worth of costs without a single cent of revenue income to fund this.

And, with Dorian’s fallout contributing to an $8m year-over-year revenue decline, Mr Cooper said Bahamasair (and its taxpayer financier) had

• Takes $18.5m hit from COVID, Dorian • Flights in ‘truncated’ Monday restart • Most islands to see one flight daily

A BAHAMASAIR jet. suffered a significant hit for its 2019-2020 financial year as it bids once more to return to the skies with Monday’s re-opening of domestic inter-island air travel.

He explained that the airline will offer a “truncated schedule” for two to

Marinas: We didn’t ask for cruise permit waiver

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMIAN marinas have denied that they are behind the tourism industry recovery plan’s call for the government temporarily waive cruising permit fees in a bid to attract boaters back to these waters post COVID-19.

Peter Maury, the Association of Bahamas Marinas (ABM) president, told Tribune Business that the sector wanted the government to still enjoy a revenue stream from visiting boats and yachts although it would

not object to such a waiver being implemented.

“We didn’t suggest that,” he replied, when informed by this newspaper of the 122-page Tourism Readiness & Recovery Plan’s contents. “That didn’t come from the Association of Bahamas Marinas. That’s not my intention.

“That definitely didn’t come from us. We want the government to be satisfied there’s a revenue stream coming in for them. If the government decides to do that we will not disagree with them. If you want

SEE PAGE 8

Don’t ‘dilute tourism’ through incentives

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

GOVERNMENT and tourism industry executives are arguing it is too early to use incentives to reboot the country’s number one industry, with one warning against “diluting existing business”.

Robert Sands, pictured, Baha Mar’s senior vicepresident of government and external affairs, told Tribune Business that The Bahamas could not afford to undercut “a brand that

remains very strong” with room rate and airline ticket discounts in a bid to immediately generate business in COVID-19’s aftermath.

SEE PAGE 8

three weeks while it obtains a better read on market demand, adding that all destinations apart from Freeport and Abaco will have “no more than one flight a day”.

Mr Cooper said Bahamasair will then switch to a “summer schedule” that

will be 20 percent reduced compared to normal given expectations that the air transportation sector will “not be as robust as last year” given the mass unemployment and reduced incomes affecting many Bahamians as a result of the COVID-19 pandemic.

He added that it was impossible for Bahamasair, as with other airlines, to remove plane seats as means of enforcing social distancing because the reduced passenger load factor capacity would increase travel costs by 30-40 percent - an outcome

SEE PAGE 5

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Minister: Tourism payroll in $2.5m ‘over-budgeting’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A CABINET minister has admitted that his ministry’s payroll was overbudgeted by $2.5m for the 2019-2020 fiscal year and has now been returned to normal levels by the new budget.

Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business his ministry had suffered no job cuts even though the 2020-2021 budget showed a 12.5 percent year-overyear reduction in staff salaries from $20.009m in the current fiscal year to $17.499m for the upcoming 12 months.

He explained that the Ministry of Tourism and Aviation’s payroll had “just been increased year after year” without any testing and allowance for both retirements and contracts coming to an end, resulting in the overshoot for the current fiscal year that comes to an end on June 30.

“That is not a cut,” Mr D’Aguilar said of the wages and salaries reduction. “We were over-budgeted in 2019-2020. We have put the numbers back to where they actually are. We had $2.5m of over-budgeted money in there. There’s been no cutbacks with lay-offs.

“I figured that out at the beginning of the year.

I assembled the team and asked: ‘Where did you come up with $20m? They all went silent. I knew two months into the year that we were over-budgeted. No one tested it; they just tested it year after year, forgetting people are retiring and that contracts are not renewed.”

While $2.5m may seem insignificant when set

DIONISIO D’AGUILAR against the 2020-2021 budget’s $1.327bn fiscal deficit, such errors can contribute to spending overshoots - especially if there are multiple ones in the same year. Eliminating such over-budgeting, especially when it comes to fixed costs such as civil service wages, is vital to ensuring taxpayers gain value for every dollar spent as the national debt heads for the $10bn mark.

The $17.499m in wage and salary costs budgeted for 2020-2021 is more in line with the $16.233m allocated to the Ministry of Tourism for the 2018-2019 fiscal year.

However, the payroll bill is projected to rise further over the coming two years to hit $20.585m in 2022-2023 - a sum higher than what was provided in the current fiscal period.

Mr D’Aguilar, meanwhile, explained that the Ministry of Tourism’s marketing and promotional budget - a key element in attracting visitors back to The Bahamas following the COVID-19 pandemic - had not been slashed by two-thirds for 2020-2021 as is indicated by the budget line items.

The “budget book” seemingly shows a 66.2 percent cut to “marketing and promotion” - from $23.26m in the revised 2019-2020

SEE PAGE 12

PAGE 2, Thursday, June 4, 2020

THE TRIBUNE

HOW COMPLIANCE CAN ASSIST WITH ADAPTATION “STRATEGY”, “new normal”, “pivoting” and, most recently, “agility” have been among the most popular buzz words and topics employed by speakers and presenters from around the world in recent months. Many top executives are consistently grappling with decisions surrounding change management, supply chain reliance and tele-working versus traditional working environments.

And, besides wrestling with the above, management

BY DEREK SMITH

is also facing the enhanced regulatory agenda from international watchdogs that have initiated massive changes to their working environments. Conduct and culture are climbing up both the regulatory agenda and consumer (internal and external) expectations.

The reality is that corporate leaders have an excellent opportunity to optimise performance, mitigate risks, understand staff and protect their company’s brand while engaging in

agile but approved practices. A strong compliance partner can be crucial to realising such opportunities. I submit that a compliance function’s main objective is operational.

Therefore, if companies are looking to enhance their operational framework, it appears vital that compliance should have an independent but senior voice in the business.

Against this backdrop, here are three areas where a compliance function can assist with business

agility and reputation management.

Compliance builds trust Trust requires repeated interactions, honest communication and following through on commitments.

Equally, agility demands interactions over process. Therefore, I would argue that the compliance function is the perfect catalyst to build trust and communicate consistently.

Management should also trust but verify. A compliance function manages the verification of adopted policies, and reinforces the cultural values of an organisation. It also administers training around the importance of honesty, candor, rules and regulations.

Compliance is a collaborator Historically, compliance seemed burdensome to many processes based on reaching out to internal partners as circumstances arose. This was needed, as compliance ensures internal processes are compliant with regulations and the values of the organisation. Agile regulatory risk management now includes identification changes, bringing together key business stakeholders to assess the impact and alterations required before process changes.

This allows the affected stakeholders to have a direct conversation with compliance to ensure the final product and process is compliant. Moreover, stakeholders with differing views and interests balance themselves out. This adds to ongoing efficiency.

Compliance drives innovation and change There are several approaches used for training throughout the

world. Compliance has the opportunity to introduce adaptive compliance training versus linear compliance training. The one-size-fits-all approach, although grounded in history, does not subscribe to an agile environment.

On the contrary, adaptive compliance fosters an interactive training environment that does not require inperson classes. It is dynamic and tailored to the nuances of the company. These principles of tailoring to needs can be replicated in sales approaches, compliance, employee experience, customer experience and business operations.

In short, to create an agile company, the partnership between executive leaders and compliance is critical in establishing the new normal. Working in silos, where decisions are made and compliance then provides credible challenges (advice, suggestions, alternative views) along the way undoubtedly interferes with efficiency. Cohesiveness, partnership and joint values will lead to a more nimble, attractive and desirous company for employees and customers alike.

NB: Derek Smith Jr is a compliance officer at a leading law firm in The Bahamas, and a former assistant vicepresident, compliance and money laundering reporting officer (MLRO), at local private bank. His professional career started at a ‘Big Four’ accounting firm and has spanned over 15 years, including business risk management, compliance, internal audit, external audit and other accounting services. He is also a CAMS member of the Association of Certified Anti-Money Laundering Specialists (ACAMS).

CAN MAKE A DIFFERENCE IN THE LIVES OF THE CHILDREN AT RANFURLY

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THE TRIBUNE

Thursday, June 4, 2020, PAGE 3

COVID-19 costs Mall Jitneys drivers eye retailers 40% of sales licensing extension

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net MALL at Marathon retailers yesterday voiced optimism that business activity will rebound swiftly after the COVID19 lockdown cost some between 30-40 percent of their annual sales.

Ronald Rolle, Dollar Plus’ general manager, told Tribune Business yesterday that it was “going pretty fine” after the Mall reopened on Tuesday for the first time following the economic shutdown.

“We are following all of the protocols, following all of the guidelines and everything, and making sure everything is clean and nice. Taking care of our customers as always, and we hope for better times,” he said. “To be honest, I expect by between now and Monday things will be looking back to normal. As long as we do things right we expect to be OK.” But Carol Rollins, Fashion on Broadway’s general manager, said: “Since we have opened everything was kind of quiet, and it

Taxi drivers ‘ironing out details’ for return

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net TAXI cab drivers were yesterday said to be “ironing out the details” for their Monday return to work amid concerns over how social distancing protocols will be enforced at the airport’s recreation and restroom areas.

Wesley Ferguson, the Bahamas Taxi Cab Union’s (BTCU) president, told Tribune Business that drivers will be back at Lynden Pindling International Airport (LPIA) on Monday to coincide with the June 8 restart for domestic interisland travel.

While the planned July 1 return of commercial international airline flights remains almost one month away, the union chief said the industry was now “finalising” the health protocols needed for its safe return after a two-and-a-half month shutdown.

“July 1 is a little bit far off, but the domestic taxi cab service is opening up on Monday,” Mr Ferguson confirmed.

“For domestic travellers, the taxi drivers are involved in that as well. So we are looking

has been going very slow, very slow. We hope by next week things will pick up, because you know we are not allowed to open up on Saturday. Those are our busy times, and plus we are closing at 5pm and most of our customers start coming in at 5pm.

“I just hope by next week most of our customers know that we are open and they can still come in and shop between 9am and 5pm. If we can get some time on the weekend that would be good, because that was the busiest times.”

Ms Rollins said that while customers have abided by health protocols, the sales lost to the pandemic will not be recovered. She said: “We had gone from ten to like one right now. This closure represents 30 percent of my total year’s revenue.”

Shantel Rolle, general manager of Brass & Leather, added: “Business is kind of slow right now.

Hopefully, gradually, things will pick up, but I honestly can’t say when. Everywhere you go the protocols are the same; you have to wear your masks, use hand

sanitiser and stand six feet apart.

“Hopefully things pick up soon as people start to get back to work. I think this closure has cost me between 30 percent and 40 percent of this year’s revenue, right around there.”

Marissa Nicholls, Electronic Express’s general manager, said: “It’s not so bad. Like yesterday we had a lot of people, and more people than you would have expected to see since it was the first day back.

People were just excited to be back in the mall.

“Hopefully soon business will pick up, but I can’t really say. You know a lot of people have lost their jobs so it is hard to say. It is not bad so far, but this is only the second day.”

Another Mall at Marathon tenant, speaking on condition of anonymity, told Tribune Business the first sales day was good. He added that the only concern was the landlord still charging rent even though the store was forcibly closed by the emergency orders, but added that he hoped to come to an amicable arrangement.

at Monday, and we are now in final meetings to finalise how that is going to operate.

We realise the domestic and international taxi service are two different entities.

“They are opening the domestic travel side at the airport on Monday, and we are very interested to see how that is going to go. They are going to start the domestic flights, so obviously the taxi drivers would have to be there in case someone would have to catch a taxi from the airport. The taxi drivers are eager and ready to return to work.

“At least this is a start to jump-start the economy.

At least the taxi drivers can go back to work. It’s gradually going to be realised on Monday that new protocols are going to be in place, with the hand sanitising and the social distancing, and we have to get into that luggage handling and whether or not people want you to handle their luggage.”

The taxi union chief added: “This July 1 reopening date for the BTCU is welcomed news. We have been home for three months or more, and the longer we spend at home and away from work and not having any income, it is taking a very heavy toll on the taxi drivers.

“We just hope we don’t have a new surge of COVID-19 cases when we open the borders up to international tourists, because on our end we seem to have it

basically under control. Our biggest fear is for those persons from those countries who do not have it under control the way we do. What kind of measures will they have in place to ensure that when they clear the entry points into this country that they are safe to get into one of our cars.”

Mr Ferguson said he and the drivers want to know how the airport’s new call-up system is going to work given that taxi drivers previously congregated in the recreation rooms - a practice that will be difficult to continue due to the social distancing protocols required to combat COVID-19.

“The amount of taxi drivers that worked from the airport, considering what facilities the airport had, it would not be adequate any more when you talk about social distancing, because it is designed for taxi drivers to be in close proximity to each other,” he explained. “So they have to now revamp and reorganise that to see how best they can accommodate the taxi drivers. I will be down to the airport on Monday to observe what takes place.”

However, Mr Ferguson said the country is “not ready” to implement his earlier proposal for a “safety sticker” programme at the airport and other ports of entry, where taxi cabs are checked routinely during the day and given a sticker of cleanliness and sanitization.

Dividend Notice 28 May 2020 The Board of Directors of Benchmark (Bahamas) Ltd. at its 24th April, 2020 board meeting unanimously elected to suspend the dividend payable for 30 June, 2020, following the outbreak of the novel Corona virus (COVID-19).

Suspension of the June, 2020 dividend was agreed by the board in response to the economic uncertainty that COVID-19 has created globally. With governments around the world closing their economies to protect human lives and the unknow impact that such measures will have on future economic growth, gave the board the rational to deploy financial containment measures across the company ensuring that financial strength can be maintained post COVID-19. Once more certainty can be gained as to the real economic impact of these governmental measures and the potential outcome they are likely to have on global and domestic future economic growth and activity the policy will be reviewed.

Brent Roberts Secretary

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net JITNEY drivers yesterday asked the government for two months’ grace to licence their vehicles as they prepare to return to the roads on July 1 after a twoand-a-half month absence.

Rudolph Taylor, the Bahamas Unified Bus Drivers Union’s (BUDU) president, said: “I am hoping we are going to have a smooth transition with what we are facing right now. We are trying to see if we can meet with the minister (Renward Wells, minister for transport), to see what is required moving forward.

“A lot of the drivers, even though they are opening up July 1, are looking for some leeway seeing how they have been off the road for so long.” Mr Taylor is appealing to the government to give drivers up to two months to license their vehicles following the return to work, given that many have not been on the roads earning a living for close to three months.

“They are excited to be able to go back on the road because they would have back bills and future bills coming. So they are happy to go back to work to be the men and women they are to be able to be, and take care of their families,” he added.

“I expect for us to have protocols in place. Face masks, of course, will be fully enforced. Sanitisers as well. Where the driver is, we may be able to put something where the driver is situated, but this is something that is still up in the air because the busses would be open and there would be ventilation. It would not be like the air conditioning is on.”

Mr Taylor argued that jitneys do not need security guards, adding: “Bahamians understand the situation we

are all in, and I think they would abide by the rules and regulations. Ww will have signage as well, and those who are not dressed appropriately would not enter the bus. We will not put our drivers and passengers at risk.”

Harrison Moxey, the United Public Transportation Company’s (UPTC) president, told Tribune Business: “We imagine it may be a slow start, and we’ll be looking at having spacing in the vehicles.

We’ll be watching the bookings for tourism to see what that would mean also and, as hotel bookings increase, what potential increase in movement that can be for us as people return to work.

“There are a lot of things predicated on the hotel staffing, which is going to necessitate people being rehired and having to get to work and moving about, and probably have more money to do more shopping. So increased movement, that would be better for us.”

“It’s a wait and see process, and we would take every precaution with masks, gloves and the handling of fares. We are looking into plexiglas protection for the drivers.”

While placing security

guards on jitneys is a consideration, Mr Moxey said this would come with an extra cost. He added: “We looked at that in conjunction with seeimg if people would use the wipes and the sanitising stations at the door that we’re trying to put there. We’re trying to get them. That is a scarcity right now, so we’re looking at that.”

“Not knowing what it’s going to be, we’ll see how affordable it [security guards] is because extra manpower is going to mean an extra cost. Everybody is down right now, and it has been three-and-a-half months with absolutely no income from the bussing itself.

“You would have to couple that with the licensing and inspection and everything that has to be done. You know the extension we have until the end of July, and even at the end of July we are still going to be facing that challenge.”

“So there are a lot of variables and a lot of negative things we are coming against. It is not going to be easy, but we will have to be resilient and work with it to make the transition as smooth as possible as we go along.”

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PAGE 4, Thursday, June 4, 2020

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THE TRIBUNE

‘No difficulties’ over $150m airport raise FROM PAGE ONE creating jobs and stimulating commerce across many islands in The Bahamas that have been hit hard by COVID-19’s economic fall-out.

“That’s still actively on our agenda to proceed with through PPPs for several ones,” Mr Cargill said of the airport upgrades. “We’re not reliant on government financing for the airports.

They will be funded or financed through PPPs, and the cash flow from the airport projects themselves.

“From that perspective, there’s no burden on the public purse. The airport projects will create employment in The Bahamas and expansion of the macroeconomic fabric. If we’re expending well over $150m on capita projects, that’s a huge multiplier factor for the economy. The fact there’s no reliance on government support is a good solution for the challenges we have.”

Mr Cargill confirmed that the government is eyeing something “pretty close to the Nassau Airport Development Company (NAD) model, or a hybrid between that and what we have now”.

Under the NAD model, Lynden Pindling International Airport (LPIA) was

leased to NAD and its operating partner, Vantage, who then raised around $410m in private financing to fund the facility’s redevelopment.

The aviation director added that while much of Exuma airport’s financing will come from the proceeds of an Inter-American Development Bank (IDB) loan, the majority of the more than $150m required will be raised from private capital sources.

“There’s so much widespread interest in the airport project that I don’t see a difficulty in securing a PPP partner in terms of financing,” Mr Cargill told Tribune Business. “We have offers now for the capital. The capital is not the issue; it’s getting the right partner to manage the airports...

“We’ve had two offers, and we’re taking a deep dive into one right now in conjunction with the Ministry of Finance. That’s a local offer, but we’ve had lots of interest internationally.” He added that the government had yet to decide on whether one or multiple managers were best for the targeted Family Island airports. While “economies of scale” favoured a single manager, it was unclear whether all facilities would be a good fit for that operator.

“The Exuma airport project is out to tender now, and we’re in the bid evaluation phase,” Mr Cargill said.

“We have three bids we’re analysing. Certainly, the contractor will have been selected for the Exuma airport before year-end, and then we will have to work on a PPP for the operating company over an 18-month project.

“We have the North Eleuthera airport in the final stages with the land acquisition, the Deadman’s Cay airport in Long Island is in

the final design stages, and the Great Harbour Cay airport they’re building now.

The Marsh Harbour airport, the Disaster Reconstruction Authority and Ministry of Tourism are repairing that, and are providing a solution for the Treasure Cay airport.”

Mr Cargill said Hurricane Dorian’s devastating impact on Grand Bahama and Abaco had left Exuma and North Eleuthera as the next busiest airports in The Bahamas after LPIA, while Great Harbour Cay acts as a “hub” for private planes and Deadman’s Cay remains critical to Long Island’s tourism expansion.

These latest moves are an attempt to execute on the long-standing need to improve air access to the Family Islands if they are ever to fulfill their commercial and touristic potential - something that has become increasingly urgent due to COVID19. Aviation consultants, Stantec, estimated in 2013 that a $180m total investment was required to bring all 28 Family Island airports up to international standard, and this figure is now thought to easily exceed $200m.

The planned $150m PPP financing will likely be kept off the government’s balance sheet via the use of special purpose vehicles (SPVs), and thereby not contribute to a national debt projected to pass the $10bn threshold within the next two years.

Mr Cargill, meanwhile, confirmed that the Airport Authority plans to invest “close to $13m” in upgrading LPIA’s security features, chiefly baggage screening equipment and full body scanners. “That’s going to be state-of-the-art and mirror what you see at other international airports,” he said.

THE TRIBUNE

Thursday, June 4, 2020, PAGE 5

Bahamasair eyes 20% summer capacity cut FROM PAGE ONE

that would put many in the industry out of business, as well as placing air travel beyond the financial reach of many consumers.

Pointing out that “a balance” must be struck between health and economic demands, Mr Cooper said: “Bahamasair is planning for bringing flights back. We’re following in the government’s phased opening of the economy, and domestic travel is part of phase four, which starts on Monday.

“We have set out a schedule, a limited schedule, to come out in line with how we believe demand will increase. That’s something we will monitor and adjust accordingly. We do intend to have flights on the line for Monday morning, and this will be in play for a two to three-week period where we have a truncated schedule.

“The truncated schedule, apart from Freeport and Abaco, all destinations will have no more than one flight a day. Some locations, Acklins, Crooked Island and Treasure Cay, will only have two flights per week.

After that we will move into a summer schedule. Going into the summer schedule there will be a 20 percent reduction because air transportation is not as robust as last year. We’ve dropped the capacity for the summer by 20 percent.”

Outlining COVID-19’s costs to Bahamasair, Mr Cooper told Tribune Business: “The airline has had an estimated static expense to the tune of about $10.5m.

We were losing through three-and-a-half months.

April, May and most of March. Even though the COVID-19 lockdown went into effect from March 24, we were reducing flights drastically before that for almost a month.”

And Hurricane Dorian produced an $8m

year-over-year revenue loss.

The Bahamasair chief said the category five storm’s impact on The Bahamas’ second and third largest population centres had reduced flights, routes and passenger volumes domestically as well as internationally, pointing to the impact on the national flag carrier’s service to Fort Lauderdale and West Palm Beach, respectively, from Freeport and Abaco.

“The country went into a standstill. Nobody did any flying. The shell shock of Dorian suppressed the travel market immensely,” Mr Cooper said. He added that its impact was felt by Bahamasair for a three to four-month period starting in September 2019, with passenger load factors to Haiti impacted by the storm’s devastating effects on communities in Abaco.

Mr Cooper added that Bahamasair is following International Air Transport Association (IATA) guidelines, as well as Bahamian health protocols, is implementing on-plane COVID-19 measures. He said “social distancing on the aircraft itself is not

really going to work” given the confined cabin space in which crew and passengers must operate.

With pressurised compartments and airflows that are regulated every two minutes, Mr Cooper said the “head to toe” flow of air conditioning systems meant air was taken “in a direction where it is not blowing on anyone else”.

He added that even if socalled ‘middle seats’ were removed passengers would only be one feet to 16 inches from each other - a far cry from the six-feet distancing normally required.

Instead, enforcing the wearing of protective masks by all passengers and application of hand sanitisers will be critical for the aviation industry’s rebound.

“We don’t expect planes to fly at full capacity in this COVID-19 environment, and we’ve dropped the capacity for the summer by 20 percent,” Mr Cooper added, suggesting that wearing masks dropped the risk of spreading COVID-19 infection to around just five percent.

For a “nominal fee”, with taxes stripped out, he said

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PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, MONIQUE SHOLEYA STRACHAN of Lancaster Road, Stapleton Gardens, P.O. Box N-117, New Providence, Bahamas, intend to change my name to MONIQUE SHOLEYA STUART. If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

passengers could also purchase the plane seat next to them for extra security.

“It’s physically impossible to move the seats,” the Bahamasair managing director told Tribune Business. “You have to pay for the expenses of the aircraft. The profit mandate for most airlines is based on the plane being 85-90 percent full.

“If we have to take out all those seats the cost of travel will go up

significantly by 30-40 percent per person, and that’s not what the market is looking for. You have to have a balance. You’ll find most airlines are taking that approach.”

Mr Cooper nevertheless said he was “very confident” that Bahamasair will rebound from the COVID19 pandemic, noting that it “plays a vital role in Bahamian infrastructure” and is effectively “the transportation system if the country”

in providing service to the Family Islands.

Anticipating that demand for routes into central and South Florida could rebound relatively quickly, he added that cost containment measures may also be needed “to make it all work”.

Most of Bahamasair’s office and administrative staff reported back to work yesterday, while operations personnel will return on Monday as flights resume.

PAGE 8, Thursday, June 4, 2020

Marinas: We didn’t ask for cruise permit waiver FROM PAGE ONE

people to come and spend money, don’t charge the cruise permit, but I didn’t say that. If they want to give it up for a little bit I’d say it’s a good idea.”

Ministry of Tourism and private sector officials, in presenting the sector’s postpandemic health protocols, suggested that the section dealing with marinas was largely based on recommendations submitted by Mr Maury and his fellow ABM members.

The plan, suggesting that The Bahamas provide incentives to attract boaters following their three-month absence from this nation, said: “It is recommended that the government provide

a re- opening incentive/goodwill gesture by waiving the cruising permit fees for a period of time.”

Detailing the advice received from the sector, it added: “The Association of Bahamas Marinas (ABM) has received deep interest and reassurance from the boating community expressing its readiness to resume activities upon the relaxation of COVID-19-related restrictions.

“While this is positive, the ABM is aware that several [US] states’ destination promotion agencies, visitors and convention bureaus are seeking federal funding for tourism promotion. This could produce domestic competition for travel out of country. Gas prices are at

THE TRIBUNE all time low globally. However, these decreases are not reflected in fuel prices in The Bahamas.”

Detailing plans to kickstart marketing efforts targeted at the boating and yachting community, the tourism recovery plan added: “The Association of Bahamas Marinas (ABM) will employ its large network of Bahamas-friendly marinas in South Florida, yacht owners, boaters, charter management companies, yacht brokers and boating and yachting magazines to announce the re-opening of our country to boating traffic.

“The ABM is capable of reaching the majority of boaters interested in travelling to The Bahamas, and will work in partnership with the Ministry of Tourism to get the word out and to promote boating arrivals.

As part of its public relations and marketing strategy, the ABM will rely heavily on social media and magazine

editorial, through which media we are effectively able to reach the targeted consumer.

“The Bahamas Maritime Authority (ABM) will complement the Ministry of Tourism’s efforts to increase the boating message through its digital messaging channels. Given the quick response capability of the sub-sector, we urge giving boating front page positioning on www.bahamas.com,” the plan added.

“The organisation will also work in co-operation with the Bahamas Tourism Offices (BTOs) in developing and distributing a boating dedicated e-newsletter, dedicated boating posts on social media using #BahamasBoating and #ItsBetterinBahamianWaters.

The ABM will collaborate with the BTO’s management team to leverage the BTO’s web assets to improve positioning of the boating assets of the destination.”

LEGAL NOTICE

LEGAL NOTICE

NOTICE

NOTICE

SAINT PAUL INC.

DASUMAYALA INC.

In Voluntary Liquidation

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, SAINT PAUL INC. is in dissolution as of June 2nd, 2020.

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, DASUMAYALA INC. is in dissolution as of April 17, 2020.

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

LIQUIDATOR ______________________

Don’t ‘dilute tourism’ through incentives FROM PAGE ONE “That has not even come up at this point in time.

Certainly, that’s not the way we look at it in the first instance. The Bahamas brand, even in COVID-19, remains very strong,” he said, when asked if the industry is looking to employ incentives as part of its marketing tool. “So there will be a new normal but business as usual.

“Where there are opportunities to create incentives they will be looked at very carefully, very seriously, to ensure we drive incremental business not dilute existing business.”

Mr Sands was backed

by Dionisio D’Aguilar, minister of tourism and aviation, who agreed that the timing was not right for The Bahamas to provide incentives and discounts given that it has a premium, high-end position to maintain.

“Not yet,” he responded to this newspaper. “We have to find our way through this new normal and ramp-up in a measured way to work through any kinks in the system. I don’t think anyone wants us to go that way right now, so let us work through and manage the protocols and then we can look at incentives and such like.”

Mr Sands, meanwhile, said Baha Mar had yet to set a date for when its phased re-opening will begin. Instead, he said the Cable Beach mega resort is

focusing on implementing the new health protocols to its satisfaction and that of its guests and staff.

He acknowledged that the COVID-19 health protocols will result in less visitors being permitted in areas such as casinos, restaurants and other public areas due to the need to maintain social distancing and other requirements.

“There will be capacity adjustments in terms of social distancing in the restaurants and casino,” he added, warning that it was “too early to assume” there would be a negative financial impact for Bahamian hotels and their owners/operators.

“Don’t forget the industry will do a number of things to mitigate against that, including extending dining times.

Maybe restaurants can extend on to balconies and patios too, so we have incremental seating available for social distancing for food and beverage,” Mr Sands said.

The Baha Mar executive, though, warned that the protocols and measures designed to protect tourists and resort staff from COVID-19 will only work if all abide by them as no single weak link can be afforded.

“We will be as good as long as we marshall and police the protocols to the best of our ability,” Mr Sands added, “and persons adhere to them as well. It’s going to be critical to the health and safety of the tourism industry, and recovery of our industry, going forward.”

-

PAGE 10, Thursday, June 4, 2020

THE TRIBUNE LEGAL NOTICE

NOTICE

NEU CHANDLER VALLEY LIMITED In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, NEU CHANDLER VALLEY LIMITED is in dissolution as of May 15, 2020.

International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

LEGAL NOTICE

NOTICE

CHRISPANVILLE LIMITED In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, CHRISPANVILLE LIMITED is in dissolution as of May 15, 2020.

International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

LEGAL NOTICE

NOTICE

NORTH STEYNE LIMITED In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, NORTH STEYNE LIMITED is in dissolution as of June 2nd, 2020.

Paul Blackwell situated at 2 Camellias, Bulwer Avenue, St. Sampsons, Guernsey, GY2, 4LB is the Liquidator.

MARKET REPORT www.bisxbahamas.com

(242) 323-2330

WEDNESDAY, 3 JUNE 2020

LIQUIDATOR ______________________

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,137.12 | CHG: 0.28 | %CHG: 0.01 | YTD: -94.48 | YTD%: -4.23 BISX LISTED & TRADED SECURITIES 52WK HI 4.45 22.65 7.00 6.75 2.58 2.00 5.47 12.77 6.17 4.50 10.30 3.64 5.10 10.88 8.15 16.99 9.40 4.25 15.21

52WK LOW 3.35 20.91 5.50 5.39 1.78 0.67 2.00 10.21 5.60 3.62 5.41 2.53 1.85 8.00 7.01 13.04 6.98 3.14 13.90

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Class A Focol Class B

CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

PREFERENCE SHARES

1.00 10.00 1.00

1.00 10.00 0.90

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 3.55 17.43 6.00 6.68 1.78 1.62 3.00 11.26 6.10 4.00 6.01 2.97 5.10 9.73 8.00 14.50 8.97 4.00 15.20

CLOSE 3.55 17.43 6.00 6.68 1.78 1.62 3.00 11.26 6.10 4.00 6.01 3.08 5.10 10.11 8.00 14.50 8.97 4.00 15.20

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.00 0.38 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 0.90

1000.00 1000.00 1000.00 1000.00 1.00 10.00 0.90

0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00

CHANGE 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

VOLUME

EPS$ 0.239 0.932 1.760 0.369 0.070 0.000 -0.438 0.722 0.449 0.184 0.140 0.102 0.467 0.646 0.728 0.816 0.939 0.203 0.631

DIV$ 0.170 1.260 0.000 0.260 0.000 0.020 0.000 0.720 0.220 0.120 0.000 0.434 0.060 0.328 0.240 0.540 0.200 0.120 0.610

P/E 14.9 18.7 N/M 18.1 N/M N/M -6.8 15.6 13.6 21.7 42.9 30.2 10.9 15.7 11.0 17.8 9.6 19.7 24.1

0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0

YIELD 4.79% 7.23% 0.00% 3.89% 0.00% 1.23% 0.00% 6.39% 3.61% 3.00% 0.00% 14.09% 1.18% 3.24% 3.00% 3.72% 2.23% 3.00% 4.01% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75%

MATURITY 19-Oct-2022

6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

YTD% 12 MTH% 1.04% 3.87% 0.61% 2.93% 0.50% 2.50% -1.34% 2.23% -12.71% -5.79% 0.94% 3.72% -3.46% 2.09% -0.11% 3.43% -3.33% 1.53% -0.32% 10.20% -1.58% 15.37% 0.88% 5.22% -4.91% 10.77% 1.89% 6.75% -1.95% 0.38% N/A N/A -10.90% -4.30% -18.80% -12.00%

NAV Date 31-Mar-2020 31-Mar-2020 27-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020

LEGAL NOTICE

NOTICE

GULF INVESTMENTS LTD. In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, GULF INVESTMENTS LTD. is in dissolution as of April 17, 2020.

International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

MUTUAL FUNDS 52WK HI 2.31 4.40 2.10 198.39 168.29 1.67 1.85 1.76 1.24 8.34 10.26 7.00 12.15 12.58 10.81 10.00 8.98 11.79

52WK LOW 1.67 3.30 1.68 164.74 116.70 1.61 1.75 1.70 1.14 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Preferred Income Fund Leno Growth Fund Leno Diversified Fund Leno Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

NAV 2.31 4.39 2.10 192.52 145.55 1.67 1.79 1.75 1.16 8.31 10.07 7.00 11.42 12.58 10.52 N/A 8.31 10.01

MARKET TERMS

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

31-Mar-2020 31-Mar-2020 31-Mar-2020

LEGAL NOTICE

NOTICE

BLUE DANUBE LTD. In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, BLUE DANUBE LTD. is in dissolution as of May 12, 2020.

International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | COLONIAL 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

THE TRIBUNE

Thursday, June 4, 2020, PAGE 11

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 80° F/27° C Low: 73° F/23° C

TAMPA

FRIDAY

SATURDAY

SUNDAY

MONDAY

Clouds and sun with a thunderstorm

Partly cloudy with a thunderstorm

Clouds and sun, a shower; breezy

Partly sunny and breezy

Times of clouds and sun

Clouds and sun, a t‑storm possible

High: 87°

Low: 76°

High: 88° Low: 77°

High: 88° Low: 78°

High: 88° Low: 77°

High: 87° Low: 76°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

96° F

83° F

96°-81° F

98°-83° F

98°-85° F

99°-85° F

High: 80° F/27° C Low: 74° F/23° C

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

N

almanac

E

W

ABACO

S

N

High: 83° F/28° C Low: 80° F/27° C

8‑16 knots

S

High: 82° F/28° C Low: 73° F/23° C

7‑14 knots

FT. LAUDERDALE

FREEPORT

High: 82° F/28° C Low: 77° F/25° C

E

W S

E

W

WEST PALM BEACH

N

uV inDex toDay

TONIGHT

High: 84° F/29° C Low: 78° F/26° C

MIAMI

High: 82° F/28° C Low: 76° F/24° C

7‑14 knots

KEY WEST

High: 85° F/29° C Low: 81° F/27° C

ELEUTHERA

NASSAU

High: 87° F/31° C Low: 76° F/24° C

Forecasts and graphics provided by AccuWeather, Inc. ©2020

High: 84° F/29° C Low: 80° F/27° C

N

tiDes For nassau High

Ht.(ft.)

Low

Ht.(ft.)

Today

7:06 a.m.

7:40 p.m.

2.7 3.5

1:15 a.m. ‑0.3 1:16 p.m. ‑0.7

Friday

7:59 a.m.

8:31 p.m.

2.7 3.5

2:09 a.m. ‑0.4 2:06 p.m. ‑0.7

Saturday

8:51 a.m.

9:21 p.m.

2.6 3.5

3:01 a.m. ‑0.5 2:56 p.m. ‑0.7

Sunday

9:42 a.m.

10:10 p.m.

2.5 3.3

3:52 a.m. ‑0.4 3:45 p.m. ‑0.5

Monday

10:32 a.m.

10:59 p.m.

2.5 3.2

4:42 a.m. ‑0.3 4:35 p.m. ‑0.3

Tuesday

11:24 a.m.

11:48 p.m.

2.4 3.0

5:32 a.m. ‑0.1 5:26 p.m. 0.0

Wednesday 12:17 p.m. ‑‑‑‑‑

2.3 ‑‑‑‑‑

6:22 a.m.

6:18 p.m.

0.1 0.3

sun anD moon Sunrise Sunset

6:20 a.m.

7:57 p.m.

Moonrise Moonset

6:59 p.m.

5:19 a.m.

Full

Last

New

First

Jun. 5

Jun. 13

Jun. 21

Jun. 28

CAT ISLAND

E

W

High: 85° F/29° C Low: 80° F/27° C

N

S

E

W

7‑14 knots

S

8‑16 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 84° F/29° C Low .................................................... 72° F/22° C Normal high ....................................... 86° F/30° C Normal low ........................................ 73° F/23° C Last year’s high ................................. 86° F/30° C Last year’s low ................................... 76° F/25° C Precipitation As of 2 p.m. yesterday ................................. 0.67” Year to date ............................................... 19.95” Normal year to date ..................................... 9.17”

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 85° F/29° C Low: 80° F/27° C

High: 85° F/29° C Low: 81° F/27° C

N

High: 85° F/29° C Low: 81° F/27° C

S

LONG ISLAND

tracking map

High: 86° F/30° C Low: 81° F/27° C

H

E

W

7‑14 knots

MAYAGUANA High: 87° F/31° C Low: 81° F/27° C

Shown is today’s weather. Temperatures are today’s highs and

CROOKED ISLAND / ACKLINS

tonight’s lows.

RAGGED ISLAND High: 85° F/29° C Low: 82° F/28° C

High: 85° F/29° C Low: 81° F/27° C

GREAT INAGUA High: 88° F/31° C Low: 82° F/28° C

N W

N E

W

E S

S

8‑16 knots

8‑16 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday:

WINDS SE at 7‑14 Knots SE at 7‑14 Knots SE at 7‑14 Knots ESE at 8‑16 Knots ESE at 7‑14 Knots ESE at 8‑16 Knots ESE at 8‑16 Knots ESE at 10‑20 Knots ESE at 7‑14 Knots ESE at 8‑16 Knots SE at 7‑14 Knots ESE at 7‑14 Knots SE at 8‑16 Knots ESE at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots ESE at 8‑16 Knots ESE at 8‑16 Knots ESE at 8‑16 Knots ESE at 8‑16 Knots ESE at 7‑14 Knots ESE at 8‑16 Knots SE at 8‑16 Knots ESE at 8‑16 Knots SE at 7‑14 Knots ESE at 8‑16 Knots

WAVES 3‑5 Feet 2‑4 Feet 1‑3 Feet 1‑3 Feet 3‑5 Feet 3‑5 Feet 3‑6 Feet 4‑7 Feet 3‑5 Feet 3‑5 Feet 1‑3 Feet 1‑3 Feet 1‑3 Feet 1‑3 Feet 3‑6 Feet 4‑7 Feet 2‑4 Feet 3‑5 Feet 4‑7 Feet 4‑8 Feet 1‑3 Feet 1‑3 Feet 2‑4 Feet 3‑5 Feet 2‑4 Feet 2‑4 Feet

To advertise ALL your LEGAL NOTICES, call The Tribune’s Sales Department

502-2394

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 80° F 80° F 84° F 84° F 82° F 82° F 84° F 83° F 81° F 81° F 80° F 79° F 83° F 83° F 84° F 84° F 83° F 83° F 83° F 81° F 82° F 82° F 83° F 83° F 82° F 82° F

PAGE 12, Thursday, June 4, 2020

Minister: Tourism payroll in $2.5m ‘over-budgeting’ FROM PAGE ONE budget approved in February to just $7.857m for the upcoming fiscal year. While this suggests that the ministry’s marketing budget has been decimated at a time when The Bahamas needs every tourism promotional dollar available, Mr D’Aguilar said the 2019-2020 number was a “misnomer”.

He explained that the $23.26m figure contained monies allocated to various Ministry of Tourism initiatives, such as the “People-to-People” programme, that had nothing to do with marketing.

The 2020-2021 budget ends this practice by stripping out such spending to give a true indication of what is devoted to promoting The Bahamas, Mr D’Aguilar said.

“It really wasn’t marketing,” he told Tribune Business of the 2019-2020 figure. “It’s a misnomer.

This [the 2020-2021 budget] tells you exactly how much we’re spending on development and promotions. Money in there previously really had nothing to do with marketing.

“There are a lot of programmes that the Ministry of Tourism does, and all these other types of services somehow dropped into the marketing and promotions. We broke all that out of there, and put it into ‘facilitation and support’.”

“Facilitation and support”, a new line item for the 2020-2021 budget, has $7.963m allocated to it. Mr D’Aguilar said combining this with the $7.857m provided for “marketing and promotion”, and $12.054m for “advertising and public notices”, totalled some $27.874m in spending for the upcoming fiscal year.

This compared to $35.11m allocated for the same purposes in 2019-2020, with the minister explaining that the

THE TRIBUNE near-$8m reduction corresponded to the 20 percent spending reduction the government had been seeking to implement across all ministries.

“We were all mandated to cut by 20 percent.

There were some reductions that went there,” Mr D’Aguilar said. He added that some $8.388m appearing in the Ministry of Finance’s budget for the 2020-2021 fiscal year, under the line “operation - Ministry of Tourism” was earmarked to pay monies owed to the cruise lines on the now-ended departure tax rebate incentive initiative. They are also still provided to the ferry companies serving Freeport.

The Ministry of Tourism, meanwhile, has targeted the private aviation, yachting and boating segments as the tourism niches that will open in advance of the rest of the industry on June 15 because they can be more easily controlled and scrutinised. Boat and plane crews, and their passengers, will register electronically before arriving in The Bahamas and thus give health

officials ample time to determine their status in advance.

Joy Jibrilu, the Ministry of Tourism’s director-general, said marketing The Bahamas’ full July 1 reentry into the tourism market will focus on presenting the nation as a safe, relatively COVID-19 free destination that is a short distance away from a US nation that provides 82 percent of its visitors especially Florida and the north-east coast corridor.

She added that “in the first instance” The Bahamas will focus on portraying the Family Islands as “designed for social distancing” due to their sparse populations, together with their ability to offer adventure and eco-tourism.

Marketing efforts will also focus on so-called “vertically-integrated markets” such as boating, fishing, diving, weddings and private destinations.

Ms Jibrilu added that The Bahamas is “armed” and ready to “step back into the fray of tourism competition” via social media, TV and other electronic and traditional platforms.

YOUR

CHOICE FOR THE FAMILY WWW.FACEBOOK.COM/JOYFM1019