PHILIPSBURG: --- SMN-News has verified through multiple sources that Finance Minister Marinka Gumbs's claims that the previous government had no meetings or discussions regarding the sale of WINAIR shares are false and misleading. Documents and testimony from involved parties indicate that meetings were held, including a formal Council of Ministers meeting on May 25, 2023, to discuss the sale of shares.
Contrary to Minister Gumbs' recent statements, SMN-News has seen proof of prior engagements between the previous administration, WINAIR, and key stakeholders, including APS (the General Pension Fund of Sint Maarten), regarding the sale of WINAIR shares. The official discussions included exploring the pros and cons of selling the shares and ensuring that the decision-making process was deliberate and not rushed. SMN-News has read correspondence confirming the involvement of high-level officials and parties expressing interest in the matter.
The process of placing WINAIR shares in the 2024 budget did not occur overnight, according to the documents SMN News perused, but is the result of careful deliberation spanning several years. The previous government, led by Finance Minister Ardwell Irion, had detailed meetings to evaluate potential investment opportunities to secure WINAIR’s financial sustainability and growth. This included possible equity sales to local entities like APS, intending to allow the people of St. Maarten to own shares in WINAIR while also considering a potential employee ownership plan. Additionally, there were discussions about the shares being sold to the public to raise funds, enabling annual dividends rather than relying on loans.
It is crucial to understand that the previous government recognized the importance of securing WINAIR’s future through strategic partnerships. The sale aimed to attract much-needed capital for the airline to grow, enhance regional connectivity, and stimulate economic development in St. Maarten.
Minister Gumbs' claim that including WINAIR shares in the budget was a "missed opportunity" is misleading. The evidence shows that the previous administration had made significant strides in ensuring a well-thought-out plan, contrary to the minister’s portrayal of the situation. Furthermore, it should be noted that Minister Gumbs should have been aware of these prior discussions, as she has access to the Council of Ministers' records, which would have shed light on the discussions with WINAIR and other stakeholders.
As the discussions regarding WINAIR’s future continue, SMN-News will remain committed to providing the public with factual, unbiased information on the matter.
