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WEDNESDAY, NOVEMBER 4, 2020

$4.00

TOMMY TURNQUEST

Bahamasair to ‘take advantage of crisis’ through Mexican route By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMASAIR is aiming to “take advantage of the COVID-19 crisis” to open up more Latin American tourism markets via development of a Mexico City route, its chairman revealed yesterday. Tommy Turnquest told Tribune Business the national flag carrier’s recent leasing of a second Boeing 737-700 jet had given it the fleet capability to start reexamining a potential route that the Ministry of Tourism first asked it to explore some 18 months ago prior to the pandemic. “We’re trying to do as much as we can to take advantage of the crises and find some opportunities,” he said of the cash-strapped airline. “One of the things we’re excited about is that the Ministry of Tourism, through research of the Immigration cards - they mine data from those cards - believes there is a very profitable market coming out of Latin America through Mexico City. “We couldn’t go to Mexico City because of the high altitude with the 727-500s we had. When we got the 737-700 aircraft we could make the trek nonstop. The challenge, though, was to begin to explore that market with just one aircraft. If we had maintenance issues, had problems, there was no redundancy, no back-up. “Now we have the second 737-700, we’re able to look at long haul markets like that which we’re going to open up working with the Ministry of Tourism. They had spoken to us about that [Mexico City] 18 months ago, but we couldn’t serve that with the aircraft we had. Now we have the aircraft we’re looking at that again.” Mr Turnquest said Bahamasair was also exploring other US markets that could be opened up as tourism gateways to The Bahamas. “The legacy carriers go into Dallas, Houston, the greater New York area, Charlotte and so on,” he added. “We have to justify our existence, and some of these opportunities are why we still exist. “We can go into Nashville, Tennessee; Cleveland, Ohio, and open up new markets. We’re quite excited in terms of looking at that as the tourism industry begins to rebound, and we hope to be part of that. We’ve been looking at opportunities, and sharpening our pencil in terms of costs and structure. We’ve been bleeding money over the months.” Many observers would argue that Bahamasair was “bleeding money” throughout its history, and long before COVID-19 arrived, although the pandemic has worsened its challenges with the airline earning zero revenue to cover monthly costs of around $7m in several months since March 2020. However, while its detractors will question why Bahamasair is seeking to expand given the losses inflicted annually on taxpayers, Mr Turnquest yesterday pointed out that

SEE PAGE 6

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Retailers to hit ‘point of no return’ this week By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

HE Bahamas Federation of Retailers (BFR) yesterday revealed multiple members will reach “the point of no return” and close permanently as early as this week unless curb-side restrictions are lifted. Tara Morley, its copresident, told Tribune Business that the inability to generate sufficient cash flow to purchase and clear Christmas inventory, due to the government’s present COVID-19 measures, had pushed many merchants to the brink of closure with the festive season less than two months away. Adding that retailers ranging from “long-standing businesses to entrepreneurial startups” had contacted the Federation in the past few days to warn they will cease

• Federation chief: Members warning of final closures • At the brink unless curb-side limits ease immediately • ‘Who wants to be terminating people going into Xmas?’

operations unless the government removes curb-side limitations this week, Ms Morley warned the situation threatened to create “an unfortunate amount of joblessness” headed into the Christmas period. Festive sales often account for up to 40-50 percent of a retailer’s annual business volumes, generating the cash flow and profits that help to carry them through the remainder of the year, but COVID19 lockdowns, curfews and restrictions - coupled with depressed consumer spending - mean many will struggle to enjoy their traditional Christmas boost. “As of today and yesterday, I have had several businesses write in from the Federation that said that

unless an announcement is made this week with regard to the curb-side restriction, they will have to shutter their doors permanently. That means I have to furlough my staff and jobs are gone,” Ms Morley told this newspaper. “One week will do that. It pushes them to a point of no return with missing the holiday season entirely, because no one is expecting it to be last year’s holiday season or the December before that. But it would have been a buffer for cash flow, to assist with the catch-up of being closed for five out of eight months that we have all been shut down. “They simply cannot afford to hold on any longer, and with what little

they have in their bank accounts they will have to use that to make their staff redundant and close down the business and cease operations. These are everything from long-standing businesses to entrepreneurial start-ups. I have received from both messages just like that, which are obviously heart-breaking and not anything anybody wants to be doing,” she added. “Leading into the holiday season, who wants to be terminating people? Unless the curb-side restrictions are lifted it is going to create an unfortunate amount of joblessness for Bahamians heading for the holidays.” Ms Morley said many

SEE PAGE 2

Marina frustration on narrowed test window By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Association of Bahamas Marinas (ABM) president has voiced frustration over the government’s failure to approve on-arrival COVID-19 PCR testing for boaters who miss “the fiveday window”. Peter Maury pledged that the association will “keep trying” after the narrowing of the PCR testing window, from seven days before arrival in The Bahamas to five days, threatened to cause complications for its yachting and boating clients. Speaking to Tribune Business in a recent interview, he argued that weather conditions, mechanical problems and other factors could all delay a boat’s scheduled arrival in The Bahamas by several days and place its passengers/crew outside the five-day time period in which they have to produce a negative COVID-19 PCR

• ‘On arrival’ proposal not approved by govt • Sector chief: Five-day COVID test too tight • Says maritime sector ‘not like taking plane’ test in compliance with this nation’s border protocols. Rather than such visitors be turned away, and forced to return to the US or other port of entry to go through the test all over again, Mr Maury said he had proposed that boaters in such a predicament - especially those who had come to New Providence - quarantine on board and take the PCR test via Doctors Hospital, which can turnaround the results within 24 hours. The ABM chief, though, said that while the government had acknowledged such a solution “makes sense”, it had yet to be approved by the Ministry of Health and included as part of the COVID-19 health and safety protocols in the emergency orders.

“The only thing we’d asked due consideration for is the seven-day window. We need seven days,” Mr Maury told this newspaper. “A boat coming from the Caribbean or the Atlantic doesn’t travel like a plane. It takes them seven days to get where they’re going. “We also had boats coming this week who were delayed because of the weather, and they’re going to have to get re-tested. A boat, when it comes in, is essentially a capsule where people can’t go on and they can’t go anywhere. I’d asked if they could be tested on arrival. “The government said it made sense, but we have guys that are total bureaucrats. They say: ‘This is what the Health Travel Visa says;

the test is done prior to arrival’. Yeah, I understand that, but if you get tested when you arrive what is better than having an immediate test?” he continued. “The Ministry of Health never approved it, and never included it in the order. If you think about it, it makes more sense to do it this way as you have a more accurate result. Yachting is just different. It doesn’t fly at 180 miles per hour; it goes at 10 knots. “It’s 240 nautical miles from here [New Providence] to the US at ten knots. That’s 24 hours. A big yacht is not going very fast. Those guys are not coming on speed boats. Bad weather for two days, two days to

SEE PAGE 6

$3.95 Bahamasair to ‘crank up’ local services with quarantine end By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMASAIR’S chairman yesterday voiced hope it will be able to “crank up” domestic services that are less than one-third of their preCOVID schedule with the 14-day quarantine’s immediate end.’ Tommy Turnquest, speaking after the government altered its Emergency Powers Orders to eliminate the quarantine on inter-island travel from New Providence with effect from November 8, said the move had yet to produce an increase in the national flag carrier’s advance bookings. The change, which is designed to bring COVID-19 travel protocols for citizens and residents in line with those for tourists, comes as Bahamasair seeks to slow the multi-million dollar losses inflicted by shutdowns and other restrictions imposed by the government. “Hopefully that’s going to increase demand,” Mr Turnquest said of the November 8 quarantine end. “We haven’t seen it in advance bookings yet. If I was to travel I wouldn’t go anywhere where I have to quarantine. “We’ve reduced our domestic flights down to 26 per week. It was around 80 something per week, but that included some international services. It was previously two times’ what it is now. For example, we’re down to operating four days a week. We don’t operate on Tuesday, Thursday and Saturday right now. “When we used to go to the south-east Bahamas two times’ a week, Inagua three times’ a week, we’re only going once a week. In the case of Freeport and Abaco, where we would go every day, we’re only doing it three or four times a week, so there’s a big difference. We have the supply, it’s just a matter of the demand matching. As soon as it comes back, we’re ready to crank up.” Mr Turnquest confirmed that Bahamasair was behind on its rental payments to three south Florida airports Miami, Fort Lauderdale and West Palm Beach. He added, though, that payment plans were being made with the national flag carrier’s landlord.

Arrival COVID test would have ‘cost us competitive advantage’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net RESORTS on some Family Islands had feared “losing a competitive advantage” had the COVID-19 “upon arrival” test remained in place, a senior Ministry of Tourism official revealed yesterday. Kerry Fountain, the Bahamas Out Island Promotion Board’s (BOIPB) executive director, told Tribune Business that hotel properties on islands such as Andros, Cat Island and Long Island feared they would lose direct airlift as they had no ports of entry designated as locations for this testing. As a result, these resorts and associated business were “not dissatisfied” when Dionisio D’Aguilar, minister of tourism and aviation, unveiled the last-minute change in government policy that abandoned the COVID-19 testing upon arrival for all tourists. Mr Fountain said the concerns related to implementation, and the exclusion of their islands as ports of entry, rather than opposition to the principle of rapid antigen testing at the border.

• Family Island resorts feared direct airlift loss • Many islands excluded as antigen test sites • Hotels urged not to do 5-day test themselves He added, though, that his members still have “small, niggling, mosquito-type questions” over where the five-day tests will be administered to their guests and who will administer them. “A lot of the hotels were reporting, not that they disagreed with testing on arrival, but that the initial plans called for certain islands and locations to be designated as COVID-19 ports of entry,” Mr Fountain told this newspaper. “It excluded airports such as Congo Town, which has direct service from Florida. It excluded New Bight, which has direct service from Florida, and it excluded Long Island. It impacted not just commercial carriers flying to those airports, but charter aircraft and private planes that fly in directly from Florida to those islands. “In this day and age, charters and private pilots having access to fly into The Bahamas and any island

is a competitive advantage. When you eliminate a number of ports of entry [from the testing], there went your competitive advantage,” he continued. “When we announced we were doing away with the rapid antigen testing upon arrival, a lot of hotels on the Family Islands were not dissatisfied with that decision.” Had the border COVID-19 testing remained in place, using a limited number of airports, marinas and sea ports, the aviation industry would have been forced to divert to these locations and away from some Family Islands. With the entire resort industry industry agreeing the previous 14-day mandatory quarantine was a “non-starter” when it came to reviving The Bahamas’ tourism industry, Mr Fountain said sector questions still remain over the COVID-19 health and safety protocols especially as it relates to the testing system.

“The rapid antigen test remains in place for visitors staying for more than five days,” he added. “I think the hotels can all live with that, but what is uncertain right now is where they go to get a five-day test and who will administer that five-day test. “Once we sort that out we will be OK. These are some small, niggling, mosquito-type questions. The two major questions from Family Island hotels in terms of frequency are where do you go for the five-day test and who administers it?” Mr D’Aguilar said the government was trying to arrange that testing, and related administration, be carried out by licensed medical practitioners on the Family Islands. Mr Fountain, meanwhile, said he was attempting to dissuade Promotion Board members from carrying out the five-day COVID tests themselves for fear this would expose them to potential legal risks.

“Some hotels, to my surprise, are willing to administer the tests on property and have someone trained to do it,” he revealed to this newspaper. “We get 82-85 percent of our visitors from the US, which is sort of a litigious country, so we have to be very careful about hotel staff administering the test when I feel, quite frankly, it should be done by someone properly trained.” Mr Fountain said the COVID-19 testing and risk mitigation system unveiled by the government at the weekend was something the hotel and tourism industry “can live with”, as he voiced optimism that the “trickle” of visitors will start to pick up following yesterday’s US presidential election. “I know they’re getting a trickle of business as of November 1,” he added of the Promotion Board’s member hotels. “It’s a drip drip. I think as we communicate with the travelling public out there that we are open for business, and dot the ‘i’s’ and cross the ‘t’s’ for our travel plans and protocols, I think you’re going to

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PAGE 2, Wednesday, November 4, 2020

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FAMILY ISLAND RESORTS MIXED ON RE-OPENING By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net FAMILY Island resorts yesterday gave a mixed reaction to the mandatory quarantine’s elimination, with some hailing it as a “big boost” as others warned they cannot re-open with zero bookings. Adelaide Andrews, general manager of Eleuthera’s Hut Pointe Inn, told Tribune Business that despite the quarantine’s end, and elimination of rapid COVID-19 antigen tests upon arrival at The Bahamas’ borders, “there are still pretty stringent testing requirements that are costly and time consuming”. She added: “I think that for most people it’s just not worth it. They can stay in the US and spend

less money and have less hassle - at least that is what I am hearing from my usual Christmas guests. “I am hearing that some of the second homeowners are trying to come down for Christmas to check on their properties because there is a lot of maintenance that needs to be done, but I have not yet gotten a single reservation for Thanksgiving or Christmas. Therefore I cannot re-open.” Ms Andrews added: “I know that I am probably the lone person with a negative forecast, but after 12 years I know that the vast majority of pumping up the season and saying you’re full is not accurate, so I prefer to simply be honest rather than pretend. “I want to have hope, I really do, for us all, but it’s

still very bleak from this end. I think that’s because my normal guest makes reservations early - sometimes a few months early - so to have zero reservations at this time of year has never, ever happened. I think a lot of us are in the same boat. I hope it’s better for those in Nassau.” She said the fall-out from the tourism industry’s softness was not confined to just the sector itself. “I think this is going to have huge ramifications on the tax revenue situation with the government,” Ms Andrews said. “There was always a steady source of income coming in from those of us who paid our VAT every quarter, and I think that that revenue has got to be in bad shape. I just filed

my second and third quarter of no sales, and I don’t anticipate much for fourth quarter.” Cheryl Bastian, owner/ operator of Swain’s Cay Lodge in Andros, was more upbeat about the November 1 re-opening and quarantine end. “This is a big boost I am thinking,” she said. “The flexibility is good for the country and in line with major competitors. “We need the Out Island domestic flights to open up more. Right now they give limited flights. They also need to drop the RT-PCR test from Nassau for Bahamians. Temperature checks, reduced passengers, masks and social distance. Stop all lockdowns and curfews, but keep the gatherings to lower numbers. “The country needs to

open. The government will not get back if more clearer and sensible protocols are not put in place. Hopefully Nassau COVID-19 numbers continue to decline as this would help a lot.” Matthew Brear, general manager of Long Island’s Cape Santa Maria resort, added: “The elimination of the quarantine in general is a good idea. It won’t make any difference to our property for local traffic; it will help with international tourism. “A return to the original opening protocols in place for the July 1 re-opening is adequate. It looks like this is where we are going with the elimination of the rapid antigen test upon arrival. I support the day five antigen test for visitors, but there seems to be considerable

complications arising in the execution of this well-intentioned plan.” However, Dr Larry Carroll, owner/operator of south Abaco’s SandPiper Inn, said his property will remain closed until 2021 due to ongoing uncertainty over how the frequent changes to the government’s COVID-19 strategy will impact the industry and wider private sector. “I see no boost for me because I have decided not to reopen until after the US presidential swearing in in January. The overall problem remains uncertainty and continually changing policy. Nothing is fixed and there is potential for a change at any moment. I cannot afford to run a business with such uncertainty day to day,” he explained.

Retailers to hit ‘point of no return’ this week FROM PAGE ONE

retailers required significant lead time to place their Christmas inventory orders, but the uncertainty created by the COVID-19 pandemic and the government’s response - veering between tightening restrictions and then loosening them - has made this task much more difficult “The way that it works with the lead time depends on the type of retailer and the category of retailers,” she explained. “So lead time can be anywhere from six months in advance to order or one to six months. So, for instance, in clothing, orders that should be

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coming in now were placed back in June and July when we were open. “What businesses have done is that they already placed conservative orders not knowing what the future would hold, and they have instructed their vendors that they have either cancelled their orders or they have said to hold their shipments because they are waiting to see what’s going on with curb-side restrictions.” Ms Morley added: “Given the fact that we have been closed down five out of the last eight months, because you can’t really count curb-side as being open because you’re not moving sufficient inventory while they are open for curbside, there is an inability to bring in merchandise. There is just no cash flow to support it. “Now, for instance, with my company, Coles of Nassau, I have shipments on hold, and if I were to

OK that shipment this week for them to ship it, it will arrive at my freight forwarder next week some time, maybe November 9. “So I won’t get it until some time the week of November 16 or November 23, and if we go past this week that means that people are cutting it - really cutting it close - for getting stock in time for Christmas. That means with all of the restrictions, with social distancing and what have you, it is taking a lot longer to clear your shipments off of the dock than it ordinarily would.” “If you can’t bring in your goods, have them in your store in time for Christmas and you miss the entire season, you cannot make up your Christmas season in one week of being open.” Ms Morley’s comments came after Dion Bethell, Arawak Port Development Company’s (APD) president and chief financial

officer, told Tribune Business earlier this week that the traditional spike in retail imports that traditionally occurs during the fall as merchants stock up on festive industry has been noticeably absent to-date. Bahamian non-food retailers typically generate 15 percent of the Arawak Cay-based port’s imports, and Mr Bethell attributed the missed “peak” that normally boosts such activity to depressed consumer spending and COVID19 restrictions that have slashed industry sales by forcing all operators to curb-side. Suggesting that many merchants were sitting on old inventory they are unable to move, the APD chief told this newspaper: “What we usually see around now, but which has not occurred, is we’d be in the peak of the season where we see a lot of the Christmas volumes for a lot of retail stores.

“Our volumes indicate that, as a result of curb-side service and inventories that a lot of retailers are sitting on, a lot of those volumes are not coming through. If I were to take a guess, it’s about 15 percent of our [container] volumes where we would see an increase over and above what they normally would be between the months of October, November and the first two weeks in December. “That is where we see that spike in the average monthly volumes. It has not happened as yet, and we’re beginning the first week of November and have not seen that occurring.” Mr Bethell confirmed this impact was also being felt at the Nassau Container Port, which BISX-listed APD operates, adding that present restrictions were likely driving Bahamian shoppers online to the benefit of courier companies/freight forwarders rather than the port and

its shareholders (Bahamian public investors collectively own a 20 percent stake). “I don’t know if it’s as a result of where we’re at,” the APD chief said of the reduced retail volumes. “A lot more persons are focused on purchasing online, and oftentimes when they do those volumes come into the country by air freight as opposed to ocean freight. “Those small items, gifts that people purchase for significant others, family and friends, because they cannot go into retail stores and see, touch and purchase what they want, persons are looking for that merchandise online and forwarding it via air freight as opposed to the likes of Kelly’s bringing it in by ocean freight. “I’m not suggesting the volumes are not coming in. They’re not coming in by ocean freight based on the volumes we’re seeing thus far.”

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Arrival COVID test Taxi union would have ‘cost us ‘won’t sit idly competitive advantage’ by’ over FROM PAGE ONE

see a strong increase and build-up in reservations. “Then you have to factor in what is going on here with the US presidential election. I think there’s a demand. We need to get past today [yesterday], and it’s been such a build up with COVID-19; it’s prevalent on the news, is such an election topic, and once people get past all the noise of the election on TV they will settle down and say: ‘You know what? I need a break’.” The Bahamas is also eliminating the mandatory 14-day quarantine for persons travelling inter-island (domestically) as of November 8, and Mr Fountain said it was vital that this nation be “consistent” with its COVID-19 health and safety protocols and not discriminate between tourists and citizens/residents. “They say what is good for the goose is good for the gander. What is good for visitors should also be good for citizens and residents.

The travel protocols in place for our visitors should be the travel protocols in place for citizens and residents,” he added. “What got us in trouble, and it’s not there to throw blame, but we learned on July 1 when we allowed Bahamians to travel to Florida and, if they returned within 72 hours, they did not need to have a test before they returned home and could self-quarantine. We saw how crazy that was.” Mr Fountain backed retaining the COVID-19 PCR test within five days of travel, and a rapid antigen test five days after arrival, for all domestic inter-island travel originating from New Providence. He also revealed that he is urging Bahamian aviation operators to adjust their Family Island schedules such that they time their departures to occur after the arrival of international flights into New Providence, thus improving connectivity and boosting load factors on their routes.

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Atlantis bubble

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Taxi Cab Union’s (BTCU) president yesterday warned it will “not sit idly by” amid fears that Atlantis’ “bubble vacation strategy” will deprive its members of much-needed business. Wesley Ferguson told Tribune Business the union was concerned other major New Providence hotels will ultimately follow the Paradise Island mega property’s lead on their COVID-19 reopening models, and hire tour companies to exclusively transport all guests between the airport and their resort destination. The hotels will argue that such a controlled environment is essential to protect their guests from COVID19 exposure, and Mr Ferguson said the taxi cab union had been seeking to head-off such concerns via the introduction of a testing programme for its member drivers. “We are watching real closely this bubble that Atlantis is putting together,” he warned. “We at the BTCU are watching

that closely because we are not going to sit down idly while Atlantis introduces this bubble vacation strategy. “What we are expecting is that Atlantis and large hotel operators are planning to hire these tour companies, and leave the taxi cabs out, because their idea is to transport these people from the airport to their hotel and back to the airport again. “So the taxi union is being proactive by agitating with the ministers of health and tourism to have the taxi drivers tested for COVID19 prior to the opening of Atlantis and other large resorts, so they would not come up with a frivolous excuse to transport those people in a bus because they are going to accuse taxi drivers of not being a safe mode of transportation because of lack of testing.” Tribune Business previously reported that Atlantis, which is aiming for a December 1 re-opening, is planning to adopt a “bubble” or “vacation in place” model where all guests will be confined to the Paradise Island property. The strategy, which will operate similar to an allinclusive resort, aims to control all COVID-19 health and safety aspects of a visitor’s stay, thereby reducing the risk that they will catch the virus or spread it to other guests and hotel workers. To further mitigate these risks, Atlantis will fly guests in via charter jet to prevent mixing with other passengers, and control all ground transportation. The disadvantage of this model, at least for

Wednesday, November 4, 2020, PAGE 3 other sectors of Bahamian tourism such as taxis, is that Atlantis guests - at least for the near-term - will not patronise their businesses. However, Dionisio D’Aguilar, minister of tourism and aviation, yesterday indicated this was an acceptable price to pay in the short-term given the need to restore the industry and all the jobs at Atlantis. Speaking outside the Cabinet Office, he said: “Atlantis came to me a number of weeks ago and said to do a test before arrival, on arrival and after arrival, that it’s just a little too much for our guests and we rather like the ‘vacation in place’ model because we’re a large facility with lots of amenities. So our guests can quite easily stay on property. “If you look throughout the Caribbean and you go to the different islands, the islands that have been the most successful are those islands where they have hotels where guests can go and vacation in place. Jamaica, with its all-inclusive model, has adapted quite well to that. “So I can understand why Atlantis is saying that we are a huge facility, we have lots of amenities, we just want our guests to remain on property, and so we said OK initially. That’s something we could agree with.” Mr D’Aguilar said the government had initially agreed to eliminate the rapid COVID-19 antigen test for Atlantis guests staying for five days a longer since they will remain on-property, but keep the pre-arrival PCR test and border antigen tests in place, to facilitate the resort’s “bubble” strategy. However, last week’s reversal by the government has eliminated the border, or “upon arrival”, antigen test. And Mr D’Aguilar said he had yet to discuss with Atlantis how this will change its plans. “Maybe with the removal of that test on arrival they might well say, OK, let’s change it, or they may decide to keep it for the time being. I will wait to see how they come back to

me on it, but I’m very anxious - and the government is very anxious - to get that property open given the fact that it is such a large employment generator,” he added of Atlantis. Mr Ferguson, meanwhile, voiced hope that tourism numbers will start to pick-up following the US election and removal of the mandatory 14-day quarantine for all visitors. “So far we are moving slowly but steadily. Right now we are waiting on the elections in the US to come to an end because that is what is having a slowdown effect on visitor arrivals right now,” he said. “We are anticipating that right after the elections, as America gets back to normality, we will see an uptick in travellers coming back to Nassau. “On Monday we counted about 146 people that came in, but Monday is not a very big day. We concentrate on weekends, but on Saturday and Sunday we just had under 200 people for each day. Monday through Thursday is not always busy, so we had the majority of the arrivals on the weekend. “You have to realise to that these international flights didn’t just start coming; they have been coming for the past month now,” Mr Ferguson added. “It is gradually climbing, but the reason why it’s moving so slow is because America is going through an electoral process. I’m anticipating that right after the elections, leading right up to Thanksgiving, we will see an uptick in visitor arrivals - even though it’s not going to be as robust as it was before.” New Providence resorts that have been open since July, SuperClubs Breezes and the Holiday Inn Express, yesterday said occupancies remain low. Muna Issa, Breezes managing director, said she had a total of 13 guests between Sunday and Monday. Diane McTague, at the Holiday Inn, added that she was pinning her hopes on a pick-up in arrivals after the US presidential elections.

PAGE 6, Wednesday, November 4, 2020

Marina frustration on narrowed test window FROM PAGE ONE

get a test result..... You’ve narrowed the window, so what are people to do if they arrive outside five days. “If they arrive on day six, and are allowed to test when they get here, instead of having to go back to the US to get retested they can await the results of the test here. It’s so simple if they pay attention. Planes fly right away, but in the maritime business it doesn’t happen like that and we

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have a number of weather variables.” Mr Maury said the issue represented a potential danger for a marina sector that is “probably the biggest contributor to hospitality right now”. He added: “I wish they’d [the government] take into account what we go through. If you’re going to change the window to five days, allow us to test on arrival. We’re set up for it. The boats are under quarantine anyway because they have to come in and clear.”

Bahamasair to ‘take advantage of crisis’ through Mexican route FROM PAGE ONE

the national flag carrier is mandated by the government to act as a “loss leader” in developing virgin overseas tourism markets to the point where they become profitable and can be taken over by other commercial carriers. He added that it also has to carry the burden of providing transportation

links and connectivity on unprofitable Family Island routes that privatelyowned airlines will likely ignore, thereby deserving a subsidy that will now far exceed the $19m allocated in the 2020-2021 budget. “The answer to your question is we cannot survive without it,” Mr Turnquest said of Bahamasair’s annual taxpayer subsidy. “Everyone in the company realises the serious nature of the business, or precarious nature of the business. “Everyone realises we have to put our best foot forward and improve on customer service, improve on reliability of the schedule. All of these things work if we work together.

We’ve looked at the operating deficiencies here and shared them companywide, talking to everyone. Before it was only the top talking to each other, but now we have more people engaged in the business we’re in. We think that’s a very positive thing coming out of this.” Mr Turnquest, though, also argued that Bahamian taxpayers are “paying for” the decision by the former Christie government not to provide a government

guarantee on the ninefigure loan taken out to purchase the airline’s ATR fleet in 2016. The absence of such a guarantee, he added, meant the interest rate attached to the loan was higher than if the government had backed it. And with Bahamasair’s cash flow and revenues having dried up due to COVID19, taxpayers are having to cover the monthly $5m-$6m repayments payments.

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NOTICE

ARGEEPEE & COMPANY (BAHAMAS) LIMITED

NOTICE

NOTICE is hereby given that ALMEDA PATRICIA ORDELUS of #16 Gamble Heights, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 28th day of October, 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE is hereby given that BRUNO THEODORIS JR. of James Cephas Lean, Grand Cay, Abaco, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 28th day of October, 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, ARGEEPEE & COMPANY (BAHAMAS) LIMITED is in dissolution as of October 30, 2020 International Liquidator Services Inc. situated at 3 rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

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BISX ALL SHARE INDEX:

CHANGE

2082.21

0.58

%CHANGE

YTD

YTD%

0.03 -149.39

-6.69

(242) 323-2330 (242) 323-2320

BISX LISTED & TRADED SECURITIES 52WK HI 4.07 22.66 2.00 1.79 2.46 6.00 6.75 4.50 8.59 4.50 6.16 12.77 3.64 6.10 10.88 8.44 16.99 4.25 9.33 15.21

52WK LOW 3.13 22.65 0.67 1.65 1.67 5.40 5.92 2.70 4.75 3.50 5.60 11.05 2.71 3.85 9.60 7.50 13.04 3.20 8.15 13.90

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

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

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

Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A RF Bank & Trust Limited Class A Focol Class B

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00

52WK HI 2.36 4.43 2.13 198.39 176.73 1.69 1.85 1.77 1.24 8.34 10.26 7.08 12.15 12.71 10.81 10.00 8.98 11.79

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.64 1.79 1.73 1.06 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

SECURITY RF Bank Note 22 (Series B) + Bahamas First Holdings Limited

SYMBOL FBB22 BFHB

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

MUTUAL FUNDS

MARKET TERMS

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

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407

LAST CLOSE 4.05 17.43 1.62 1.79 1.67 6.00 6.75 2.99 4.75 3.76 5.99 11.26 2.09 6.00 9.88 8.44 14.30 3.94 8.19 15.20

CLOSE 4.05 17.43 1.62 1.79 1.67 6.00 6.75 2.99 4.75 3.76 5.99 11.26 2.13 6.10 10.01 8.44 14.30 3.94 8.19 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 0.00 0.04 0.10 0.13 0.00 0.00 0.00 0.00 0.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

VOLUME

2,000

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 VOLUME

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

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

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

NAV 2.36 4.43 2.13 198.36 173.98 1.68 1.81 1.76 1.07 8.30 9.90 7.08 11.27 12.71 10.23 N/A 9.28 11.86

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

P/E 16.9 18.7 N/M N/M N/M N/M 18.3 -6.8 33.9 20.4 13.3 15.6 20.9 13.1 15.5 11.6 17.5 19.4 8.7 24.1

YIELD 4.20% 7.23% 1.23% 0.00% 0.00% 0.00% 3.85% 0.00% 0.00% 3.19% 3.67% 6.39% 20.38% 0.98% 3.28% 2.84% 3.78% 3.05% 2.44% 4.01%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75% 6.25%

MATURITY 19-Oct-2022 30-Sep-2025

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022

YTD% 12 MTH% 3.35% 4.31% 1.56% 3.12% 1.84% 2.51% 1.65% 2.39% 4.34% 9.82% 1.10% 2.34% -2.43% 1.49% 0.34% 2.43% -11.07% -9.92% -0.45% 8.36% -3.20% 11.46% 2.10% 5.15% -6.17% 3.54% 2.92% 5.55% -4.66% -3.81% N/A N/A -0.50% 3.70% -3.80% 4.10%

NAV Date 30-Sep-2020 30-Sep-2020 25-Sep-2020 30-Sep-2020 30-Sep-2020 31-Jul-2020 31-Jul-2020 31-Jul-2020 31-Jul-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020

YIELD - last 12 month dividends divided by closing price

52wk-Hi - Highest closing price in last 52 weeks

Bid $ - Buying price of Colina and Fidelity

52wk-Low - Lowest closing price in last 52 weeks

Ask $ - Selling price of Colina and fidelity

Previous Close - Previous day's weighted price for daily volume

Last Price - Last traded over-the-counter price

Today's Close - Current day's weighted price for daily volume

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

EPS $ - A company's reported earnings per share for the last 12 mths

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

DIV $ - Dividends per share paid in the last 12 months

N/M - Not Meaningful

P/E - Closing price divided by the last 12 month earnings

AUCTION Caterpillar Forklift – Broken Phone: (242) 352-7606 ******** Catepillar Forklift P600 – Broken Phone: (242) 698-7402 ************ (2) Tractor truck 2005 Marck – Broken Manlift 1999 JLG - Broken Dodge RAM 1500 2005 - Broken (2) Dump truck (tripper)

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

Phone: (242) 601-5328

PAGE 8, Wednesday, November 4, 2020

THE TRIBUNE

FIVE-DAY COVID TESTING ROLL-OUT ‘MAY BE BUMPY’

IT infrastructure, “but that is the intention of how it’s going to work. We have a manual system to begin with as we complete the process, and I am just trying to manage expectations here. “It may be a little bumpy coming out of the gate, as with most IT solutions the government seems to roll out. I think you will all remember the Passport Office and Road Traffic. These are all challenges that we have given the tight deadlines that are usually impressed upon us. So that is how that’s going to work.” Mr D’Aguilar did not name the company involved in developing the IT platform, other than to say it was Bahamian, and was also unaware of how much it will cost the government. He added: “We had to roll

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A CABINET minister yesterday admitted the roll-out of the five-day COVID-19 testing system for tourists “may be a little bumpy coming out of the gate”. Dionisio D’Aguilar, pictured, minister of tourism and aviation, conceded that the system and supporting information technology (IT) platform “may not be fully functional on November 5”, which is when the first rapid antigen tests must be

administered to any remaining tourists who arrived on November 1. “I am being advised by the developers who are developing this furiously in the background that we may not be fully functional on November 5,” Mr D’Aguilar said of the

out the health visa, we’re about to roll out the questionnaire, we have to do the day five test, and imagine if you would the complexities of that day five test give the archipelagic make-up of this country. “People go to many different islands, and figuring out how all that works is complex and quite logistically difficult. So we are working on it around the clock.” The location of where the five-day COVID19 test can be taken will be detailed on the back of the Health Travel Visa issued to all travellers approved to enter The Bahamas. In Nassau, the location will be Doctors Hospital, while in the Family Islands they will be administered by healthcare providers on each of the islands. The

health travel visa will contain a QR code, like a bar code, which will be scanned so that the five-day antigen test’s results can be uploaded to a visitor’s account. Mr D’Aguilar said the government plans to implement a “concierge service” to facilitate the testing of tourists, and added that it was also exploring working with the hotels to have medical laboratories install remote testing stations on their properties so guests do not have to go to Doctor’s Hospital. He said: “We expect to have an appointment-based system, where people can make an appointment, make a date. So, as you can imagine, all of this takes code and writing and testing, and hopefully within

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 79° F/26° C Low: 67° F/19° C

TAMPA

THURSDAY

FRIDAY

SATURDAY

SUNDAY

Windy; showers/thunder mainly p.m.

Wind; a few showers and storms

A few showers and a gusty breeze

Variable clouds and a few showers

Cloudy and windy with a little rain

Windy with some rain

High: 83°

Low: 75°

High: 82° Low: 75°

High: 83° Low: 75°

High: 84° Low: 74°

AccuWeather RealFeel

82° F

74° F

85°-75° F

89°-77° F

86°-73° F

85°-73° F

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.

almanac

ABACO

High: 79° F/26° C Low: 77° F/25° C

12-25 knots

High: 80° F/27° C Low: 77° F/25° C

12-25 knots

FT. LAUDERDALE

FREEPORT

High: 83° F/28° C Low: 78° F/26° C

W S

WEST PALM BEACH

uV inDex toDay

TONIGHT

High: 82° F/28° C Low: 68° F/20° C

High: 82° F/28° C Low: 73° F/23° C

MIAMI

High: 83° F/28° C Low: 77° F/25° C

10-20 knots

KEY WEST

High: 83° F/28° C Low: 77° F/25° C

High: 83° F/28° C Low: 75° F/24° C

High: 81° F/27° C Low: 76° F/24° C

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

tiDes For nassau High

Ht.(ft.)

Low

Ht.(ft.)

Today

9:47 a.m. 10:05 p.m.

3.0 2.3

3:25 a.m. 4:18 p.m.

0.5 0.7

Thursday

10:29 a.m. 10:49 p.m.

3.0 2.3

4:04 a.m. 5:03 p.m.

0.6 0.8

Friday

11:16 a.m. 11:41 p.m.

2.9 2.3

4:48 a.m. 5:52 p.m.

0.8 0.8

Saturday

12:09 p.m. -----

2.9 -----

5:41 a.m. 6:47 p.m.

0.8 0.9

Sunday

12:40 a.m. 1:08 p.m.

2.3 2.9

6:42 a.m. 7:45 p.m.

0.9 0.8

Monday

1:44 a.m. 2:09 p.m.

2.4 2.9

7:50 a.m. 8:42 p.m.

0.8 0.6

Tuesday

2:48 a.m. 3:10 p.m.

2.7 3.0

8:58 a.m. 9:37 p.m.

0.6 0.3

sun anD moon Sunrise Sunset

6:19 a.m. 5:27 p.m.

Moonrise Moonset

8:30 p.m. 9:44 a.m.

Last

New

First

Full

Nov. 8

Nov. 14

Nov. 21

Nov. 30

CAT ISLAND

High: 82° F/28° C Low: 77° F/25° C

12-25 knots

12-25 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 79° F/26° C Low .................................................... 75° F/24° C Normal high ....................................... 82° F/28° C Normal low ........................................ 71° F/22° C Last year’s high ................................. 86° F/30° C Last year’s low ................................... 73° F/23° C Precipitation As of 1 p.m. yesterday ................................. 0.02” Year to date ............................................... 59.52” Normal year to date ................................... 36.05”

ELEUTHERA

NASSAU

a month this will be over. When our larger properties come on stream we will be ready for this well before that and in very short order. “In the Family Islands we are sourcing health care providers. We are going to build a website and show you where you can go, who you can reach out to. It’s going to be all platform and IT driven. You just cannot do this, at least not for a long period of time manually. This has to be done using technology. “So that is how that is going to work, and I just ask the public to bear with us as we grow into this system and to let it become operationalised. It might be a little problematic coming out of the gate, but that is the intention of where it will end up.”

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 81° F/27° C Low: 78° F/26° C

High: 82° F/28° C Low: 78° F/26° C

W S

LONG ISLAND

tracking map

High: 81° F/27° C Low: 78° F/26° C

15-25 knots

MAYAGUANA High: 82° F/28° C Low: 78° F/26° C

Shown is today’s weather. Temperatures

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 82° F/28° C Low: 79° F/26° C

High: 82° F/28° C Low: 79° F/26° C

GREAT INAGUA High: 80° F/27° C Low: 78° F/26° C

10-20 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: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday:

WINDS NE at 12-25 Knots ENE at 10-20 Knots NE at 12-25 Knots E at 10-20 Knots ENE at 12-25 Knots ENE at 10-20 Knots E at 10-20 Knots ENE at 8-16 Knots ENE at 15-25 Knots E at 10-20 Knots ENE at 12-25 Knots ENE at 10-20 Knots NE at 12-25 Knots E at 10-20 Knots SE at 8-16 Knots ENE at 8-16 Knots E at 10-20 Knots E at 8-16 Knots E at 8-16 Knots E at 8-16 Knots ENE at 12-25 Knots E at 8-16 Knots E at 10-20 Knots E at 8-16 Knots NE at 15-25 Knots ENE at 10-20 Knots

WAVES 6-10 Feet 8-12 Feet 3-6 Feet 2-4 Feet 8-12 Feet 5-9 Feet 3-6 Feet 3-6 Feet 8-12 Feet 6-10 Feet 5-9 Feet 4-8 Feet 3-6 Feet 2-4 Feet 4-7 Feet 3-6 Feet 2-4 Feet 3-5 Feet 6-10 Feet 5-9 Feet 4-8 Feet 3-5 Feet 3-6 Feet 3-5 Feet 6-10 Feet 3-6 Feet

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

WATER TEMPS. 81° F 81° F 80° F 77° F 83° F 83° F 83° F 83° F 83° F 83° F 78° F 75° F 82° F 82° F 83° F 83° F 84° F 83° F 83° F 83° F 83° F 83° F 83° F 83° F 83° F 83° F