P.2018/130 - States' Trading Supervisory Board
The States are asked to decide:-
Whether, after consideration of the policy letter entitled 'Aurigny Air Services - Aircraft Acquisitions', they are of the opinion:-
(i) To note the decision of the States' Trading Supervisory Board to approve Aurigny Air Services' business case for the replacement of its existing three ATR72-500 aircraft with ATR72-600 aircraft, subject to the considerations set out in section 5.7.2 of the policy letter;
(ii) To direct the Policy & Resources Committee to enable the replacement of Aurigny Air Services Limited's existing three ATR72-500 aircraft with ATR72-600 aircraft by providing:
(a) The necessary guarantees for borrowing from third parties, including the application of a guarantee fee not exceeding 0.8%, or a loan from the proceeds of the States of Guernsey bond issue; and,
(b) Guarantees that may be necessary to enable Aurigny Air Services to enter into such interest rate and/or currency exchange rate swap agreements that may be required,
in accordance with the considerations set out in section 5.4 of the policy letter.
The above Propositions have been submitted to Her Majesty's Procureur for advice on any legal or constitutional implications in accordance with Rule 4(1) of the Rules of Procedure of the States of Deliberation and their Committees.