Months in the making, Dymond group officially buys Stephenville airport - Action News
Home WebMail Wednesday, November 13, 2024, 02:26 AM | Calgary | -2.2°C | Regions Advertise Login | Our platform is in maintenance mode. Some URLs may not be available. |
NL

Months in the making, Dymond group officially buys Stephenville airport

Changes and upgrades to the airport will begin soon including a name change to the Stephenville DymondInternational Airport.

Pending deal was announced in September

A man in a blue shirt is pictured behind a microphone, in front of a stylized logo backdrop.
Dymond Group of Companies president and CEO Carl Dymond, pictured here in January, announced Tuesday the deal to acquire Stephenville International Airport has been completed. (Troy Turner/CBC)

Months after the announcement of a businessman's plan to buy Stephenville's airport, a deal has been reached.

Stephenville International Airport has officially been acquired by the Dymond Group of Companies and the Greater N.L. Partnership, according to the airport corporation in a press release Tuesday afternoon.

The agreement was signedTuesday after a final vote by the airport's board. Dymondrevealed his intentions to buy the airport in September, but the deal didn't close by an initial deadline set for December.

Dymondturned down several interviews with CBC News in the months that followed, saying he would speak to the media once the deal closed. CBC News has asked him for an interview.

According to a press release from the Greater N.L. Partnership, a federally registered company directed by Dymond, the deal is a step forward for the airport, the regionand province as a whole.

Changes and upgrades to the airport will begin soon, says the release, including a name change for theStephenville International Airport, which has already been rebranded the Stephenville DymondInternational Airport online.

"This province is my home, its values and identity will be pivotal in the daily operations of both the Stephenville Dymond International Airport (SDIA) and GNLP," said Dymond said in the release.

"Ilook forward to working with my amazing team and industry partners toincrease the airport's passenger traffic and build a world-class technological hub for Eastern Canada."

A sign saying Stephenville Airport sits on green grass.
Stephenville Airport has been quiet during the COVID-19 pandemic, but its acquisition brings the prospect of a terminal overhaul and the resumption of passenger flights (CBC)

Besides workingto restore scheduledpassenger service, which has largely been shut down at the airport since the beginning of the COVID-19 pandemic, Dymond has said he will manufacture massive cargo drones in the region.

He said the deal will create thousands of jobs and inject hundreds of millions of dollars into the community.

Trevor Murphy, chair of the board of directors for the StephenvilleAirport Corporation, said the group is pleased to reach an agreement to sell the airport.

"As a board, we hope that this will signal a new beginning for Stephenville airport, the town of Stephenville, and the southwest coast," Murphy said in a pressrelease.

'It's going to be good for this town'

Stephenville Mayor Tom Rosesays Tuesday is an exciting day for the region.

"Since Air Canada pulled out, I think it was in 1989, we've struggled in many ways. It was a big piece of infrastructure...but with fortitude and strength and support of council and the community we kept the airport running," Rose told CBC News Tuesday.

"We needed a new company with a new vision, a new game plan, to get the business modelling moving forward so that revenue generation could happen."

Stephenville Mayor Tom Rose says the sale of the airport is a big step forward for the community and western Newfoundland. (Troy Turner/CBC)

Rose said the acquisition brings "economic and financial stability" for the airport,as he's not sure the town would have had enough money to settle the airport's debt had the deal not gone through.

The promise of overhauling the aging terminal and the addition of drone production also paints a promising picture for the future, asDymond has promised 5,000 additional jobs in the region.

"If it hits 50 per cent of what he talked about, it's going to be good for this town, western Newfoundland and good for Canada."

Read more from CBC Newfoundland and Labrador

Corrections

  • A prior version of this story said that the deal to sell the Stephenville airport has officially closed. In fact, Tuesday's announcement involved an agreement to sell, and did not disclose a date for the close.
    Jun 29, 2022 9:18 AM NT

With files from Troy Turner

Add some good to your morning and evening.

Subscribe to our daily newsletter for the top stories in Newfoundland and Labrador.

...

The next issue of CBC Newfoundland and Labrador newsletter will soon be in your inbox.

Discover all CBC newsletters in theSubscription Centre.opens new window

This site is protected by reCAPTCHA and the Google Privacy Policy and Google Terms of Service apply.