The divestment of Norman Manley International Airport (NMIA) is now scheduled to be completed by June 2019.
The disclosure was made by President and Chief Executive Office of the Airports Authority of Jamaica and NMIA Airports, Audley Deidrick, in an interview with JIS News.
Outlining the stages that have been completed to date, he said earlier this year eight bidders were pre-qualified for the transaction, and the bidding stage was launched in June.
Since that time, there has been a bidders' conference in September, where five of the eight bidders showed up.
Deidrick explained that the bidders went through a series of presentations, and the enterprise team fielded questions from them and heard concerns and issues that they wanted to see contemplated in the transaction.
They have submitted formal requests for these matters to be considered.
The Airports Authority and NMIA are assessing the requests.
Deidrick also said that the the final draft of the concession agreement is being vetted by the enterprise team, to be sent back to the bidders after review by the team, the lenders and the Cabinet.
It's expected that after this process the bid launch will take place next February and a 30-day turnaround given for the bids.
He said that by March the bids should have been returned, and within a month, the winning bidder will be announced by the Government.
Based on this timeline, a commercial close is expected by June 2018.
The chosen operator should be able to fulfil three critical requirements for qualification: financial strength to expand and operate Norman Manley International, technical competence to do the required construction and expansion, and airport operating competence and expertise.
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