Business

NAD reports record increase in foreign departures at LPIA

The strongest performance of Nassau Airport Development Company (NAD) in the past decade was recorded in the first half of 2019, according to The Central Bank of The Bahamas (CBOB).

Lynden Pindling International Airport (LPIA) recorded a 19.4 percent increase in foreign departures during that period, compared to the 12.4 percent increase in 2018.

“Initial indicators for June showed that the positive trends in the industry were sustained, as data from the Nassau Airport Development Company Ltd. revealed that total departures – net of domestic traffic – increased by 16.9 percent, extending the 10.9 percent growth in the prior year,” the Monthly Economic and Financial Developments report for June points out.

“Specifically, the expansion in the dominant U.S. component accelerated to 18.8 percent from 8.8 percent; however, accretions to the non-U.S. departure segment decelerated to a mere 1.8 percent from 31.4 percent. Over the first six months of the year, aggregate departures firmed by 19.4 percent, extending the 12.4 percent expansion recorded for the corresponding period of 2018, as the U.S. segment strengthened by 21.1 percent, outpacing the 11.6 percent increase recorded in the prior year, while non-U.S. departures increased by 10 percent, a slowdown from the previous period’s 17.2 percent expansion.”

Total tourism arrivals for the year to date ending May 30 showed continuing strengthening in the sector, increasing 13.2 percent – reflecting an increase in air arrivals by 17.5 percent and sea arrivals by 11.8 percent.

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Paige McCartney

Paige joined The Nassau Guardian in 2010 as a television news reporter and anchor. She has covered countless political and social events that have impacted the lives of Bahamians and changed the trajectory of The Bahamas. Paige started working as a business reporter in August 2016. Education: Palm Beach Atlantic University in 2006 with a BA in Radio and Television News

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