BVI Airports Authority Ltd.

The BVI Airports Authority is a statutory organization of the Government of the Virgin Islands which was incorporated in 2005 to oversee the effective and efficient operation of all airports in the British Virgin Islands. The Authority was created by the Airports Act 2003; which was passed in December 2003 and assented to on the 2nd March 2004. It is also a limited liability company borne out of the need to have the regulatory and operational aspects of aviation in the Territory performed by separate entities. Prior to 2005, the Department of Civil Aviation in the Ministry of Communication and Works performed both the regulatory and the operational functions at the Territory's Airports.

The Authority currently owns and operates three airports and various helipads within the territory, including the main airport, Terrance B. Lettsome International Airport along with the Virgin Gorda Airport and the Anegada Airport.

The objectives of the Authority include inter alia:

1. To acquire, own, operate, control, manage, develop, administer and maintain the international airport and any extension thereof, and any designated airport in the Territory as a commercial undertaking in a manner which recognizes its role in the first instance as an international airport and for the benefit of the economy of the Territory;

2. To provide and maintain on a commercial basis, facilities and services for air transport and such other facilities and services as are necessary or desirable for, or in connection with, the international airport or any designated airport;

3. To collect such dues and charges as the Company may be authorized by an enactment to collect;

4. To use, develop and manage on a commercial basis, all lands vested in, transferred or leased to, the Company.