Holland Provides 3 million dollars in Capital to Save Winair

Winair’s Airport Road building is a guarantee for the loan. Photo: Winair

St. Maarten, The Government of The Netherlands will provide a mortgage loan to Winair to help save the company from bankruptcy.

Minister of Infrastructure, Cora van Nieuwenhuizen wrote a letter on the last day of 2020 to Dutch Parliament, in which the plans are laid out. According to Van Nieuwenhuizen the connections by Winair are paramount, especially for “Dutch” municipalities Saba and St. Eutatius.

The loan comes with certain conditions. Winair will be held to fly twice daily to both St. Eustatius and Saba, once flight restrictions are raised. Another condidion is that the company cannot pay out any bonuses to employees or managers during the period that the loan is outstanding.

The loan must be repaid in a time frame between 18 months and 6 years.

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