SINT MAARTEN (POND ISLAND) - On Thursday, August 19, a shareholders meeting of Winair Airline was held with all shares represented as Winair’s board presented the audited annual accounts for fiscal year 2020. Present at this meeting were the Sint Maarten shareholder represented by the Council of Ministers, the representative of the Netherlands shareholder, the Executive Board and the Supervisory Board of Directors of Winair.
Due to the impact of the pandemic, Winair experienced a sharp drop in revenues compared to the prior year. Winair’s board has held several meetings including correspondences with the shareholders in finding capital injection solutions to help the company to not only weather the pandemic effects in 2020, but to also poise the company to go into 2021 and beyond with a stronger balance sheet as the diminishing negative effects is expected to extend up to 2024.
Prime Minister Silveria Jacobs stated, “St. Maarten will do all it can to support the request for a loan with the Dutch Shareholder to maintain Winair’s viability and sustainability for St. Maarten, Saba, St. Eustatius, St. Barths and all other destinations in the region for which we remain a hub.”
The report was delivered with a clean or unqualified opinion by the auditors, indicative of the boards’ continued commitment for high quality and timely financial reporting. As such, Winair’s qualified financial statements for 2020 were approved and the Supervisory Board of Directors and Management of Winair were granted discharge.