Published On: Tue, Mar 18th, 2014

Insel Air’s future is now in the hands of the Minister and the Central Bank

korpodeko-1WILLEMSTAD – The Development bank of Curacao, Korpodeko has met to discuss the situation surrounding the local aviation company, Insel Air. As one of the shareholders (21%), Korpodeko believes that the airline must receive the financial assistance to avert a possible blow to the economy.

According to Korpodeko, it’s not up to them to help. The initiative must come first from the Minister of Economic Development, Stanley Palm. But the financial institution and the Minister are not on speaking terms. Apparently they had a quarrel on another issue.

Korpodeko also says that they have to wait on the approval of the Central Bank of Curacao and Sint Maarten (CBCS) to be able to assist Insel Air financially. CBCS supervises Korpodeko and now, especially after the fiasco of Dutch Antilles Express (DAE) in which Korpodeko has lost about 16 million guilders, they have tightened their supervision.

Insel Air has requested financial assistance from the Curacao Airport Holding (CAH) but this has to be approved by the government.

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