Grantley Adams International Airport Inc. was formed by the Government of Barbados, following the advice of British Aerospace Consultants that a commercially run airport authority was the most appropriate method of managing the airport. The “GAIA Transfer of Management and Vesting of Assets Act 2003” will transfer all rights and responsibilities for the running of the commercial operations of the airport to the company. Air Traffic Control Services will remain with the Ministry of International Transport as will the Department of Civil Aviation which will maintain its regulatory role which will be strengthened by the new Civil Aviation Act.

Who owns GAIA Inc.?

GAIA Inc. is 100% owned by the Government of Barbados. There are plans for a partial privatisation of the company in the future, however due to the strategic nature of the airport, it is not envisioned that the Government of Barbados will release a controlling interest in the company.

Why do we need a commercially run airport?

Commercially run airport authorities are becoming more and more common around the world. British Airports Authority, The Greater Toronto Airport Authority in Canada, Puerto Vallarta Airport in Mexico, The Airports Authority of India and many others are members of a growing number of commercially run airports. One of the main benefits will be that the revenues generated by the airport will pay for the running and improvement of the airport facilities. In this way the burden of maintaining and developing the airport will no longer be carried by the taxpayers but by the airport itself. Further, beyond simply maintaining airport facilities, commercially run airports have been shown to make money for their shareholders. Another advantage of GAIA Inc. is that the airport should have more flexibility to make quick decisions as may be required by commercial markets. GAIA Inc. is mandated to maximise the commercial potential of the airport. It will bring to the facility a focus on customer service.

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