The project involving the redevelopment of Bermuda’s 70 year old L.F. Wade International Airport reached financial close on March, 15th, 2017. The aging airport handles approximately 800,000 passengers per year and is subject to high maintenance costs and exposed to a high risk from rising sea levels and hurricanes.
The project consists of the design, build, finance and maintenance of a new terminal, as well as various extensions to accommodate forecast growth in traffic. The developer, Aecon Concessions, aim to finish construction in June 2020 and then maintain the project over a 30 year concession period.
On behalf of Aecon Concessions, Operis was pleased to perform a model audit of the financial model.