business@tribunemedia.net
Thursday, March 19, 2026
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Airline ticket tax cut ‘wish’ to offset fuel hike worries By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A SENIOR Bahamian tourism official yesterday said he “wished” airline ticket taxes could be slashed to offset the impact of fuel cost hikes as Family Island resorts branded the predicted jump in aviation travel prices as “definitely worrisome”. Kerry Fountain, the Bahama Out Island Promotion Board’s executive director, told Tribune Business that the Board and its members are poised to launch a variety of promotional offers - based on credits and discounts for airline tickets - to try and offset the impact from soaring fuel prices as global oil prices yesterday surged to $110 per barrel due the ongoing Middle East conflict. Major Bahamian carriers have already warned that ticket price increases are “inevitable”, with Western Air and Bahamasair warning
Out Islands to launch air fare credit, ‘fly free’ discounts Resort operator: ‘Will post-Easter softness be like jelly?’ Briland ‘buzzing’: Realtor sees 15% rental volume jump that their fuel costs are set to increase by 40 percent and 55 percent, respectively, giving them no choice but to pass at least a portion of these increased costs on to both tourists and Bahamian travellers. And Citi, one of the world’s largest financial institutions, yesterday warned oil prices may rise as high as $200 per barrel if the Iran war keeps destroying key energy infrastructure. Mr Fountain, who has long advocated for a reduction in airline ticket taxes on the basis they have pushed up travel costs to such an extent
Restaurant hits ‘Nassau limit’ amid US, DR expansion talks BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN restaurant chain has “reached our limit on New Providence” with all future expansion - both nationally and internationally - set to occur through franchising its brand and business model. Chef Kevin Culmer, founder of Tropical Gyros, one of only two entities successfully financed by investors via the now-defunct ArawakX crowdfunding platform, told
Tribune Business he is in negotiations with US and Dominican Republic groups over the brand’s expansion to those nations in the belief it “can compete” with any rival American restaurant and fast food franchise. Disclosing that he will have “a better idea” on potential timelines, and whether these talks will result in franchise deals, after Easter, he added that the US negotiations are with a New Orleans-based group interested in launching Tropical Gyros in the
that it has eroded The Bahamas’ competitive advantage of US proximity, told this newspaper that the combination of reducing these levies and the Promotion Board discounts would help to counter the effect of soaring fuel and global oil prices. “Wish we could cut our airline taxes and fees by the same percentage amount that [the airlines] plan to increase their ticket prices. This measure, combined with our $250 air credit and ‘Fly Free From Nassau’ offers would definitely help to counter ticket price increases,” he said in a southern US with a first potential location being eyed at Houston International Airport. The restaurant brand presently has seven locations on New Providence, only two of which - the JFK Drive and Carmichael Road sites, the latter near that area’s police station - are actually owned by itself. Mr Culmer told this newspaper that, “at some point”, Tropical Gyros will likely divest itself of all restaurant locations and become a pure franchisor, focusing on marketing, logistics and support for all franchisees while ensuring they stick to its proprietary recipes and ingredients. Describing himself as “optimistic” over Tropical Gyros’ future growth prospects, he
‘Boldy embrace’ Freeport model but remove GBPA BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A LONG-STANDING licensee yesterday argued that The Bahamas should double down by “boldly embracing” the Hawksbill Creek Agreement’s free trade zone model and only remove the Grand Bahama Port Authority (GBPA) as its manager and overseer. Stephen Crane, the luxury goods and jewellery retail entrepreneur long associated with Freeport’s Colombian Emeralds operation, told Tribune Business that The Bahamas - in the wake of the recent $357m Freeport arbitration model - should not seek to “throw
the baby out with the bath water” by abandoning the city’s founding treaty and special economixc zone (SEZ) benefits. Instead, in a column on Page 4B in today’s Tribune Business, he argues that while the Hawksbill Creek Agreement should be preserved intact - the GBPA should be replaced by a newly-created “professional management and investment” body charged with responsibility for overseeing Freeport’s governance, development and Customs and Immigration regimes. To satisfy the Government’s concerns about its role in Freeport, Mr Crane
REFORM - See Page B12
PM and Opposition clash on economy, living costs BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE Prime Minister yesterday defended his administration’s international engagement and economic policies in Parliament, pushing back against criticism from the Opposition leader that the Government is failing to address the economic struggles facing ordinary Bahamians. The exchange between Philip Davis KC and Michael Pintard came during debate on a package
MICHAEL PINTARD of financial services Bills, where the latter questioned whether the Government’s international advocacy and efforts to attract investment
ENERGY - See Page B12
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Food merchants say ‘progress’ on VAT change fear Optimistic that industry won’t ‘feel so burdened’ Changes ‘where possible’ but VAT relief stands Few specifics as alterations ‘still in the works’
KERRY FOUNTAIN
BY NEIL HARTNELL and Annelia Nixon Tribune Business Reporters
nevertheless admitted that 2025 was “a rough year” that saw the restaurant chain close its only Freeport location after incurring a $500,000 loss. Mr Culmer said the funds “pumped in to keep Freeport alive” had driven costs to 99 percent of revenue last year, although this ratio has now dropped back to 87 percent for the 2026 first quarter after the restaurant chain exited the city. And, with Tropical Gyros focusing on maintaining product quality and consistency, he added that it has responded to the cost of living pressures impacting its customer base by launching its ‘Snack Attack’ option that is some $4 cheaper than its ‘Gyros and fries’ staple.
FOOD merchants yesterday voiced optimism that their Tuesday meeting with the Prime Minister has made “progress” towards striking a balance between giving Bahamians cost of living relief and not leaving the industry “feeling so burdened” over the uncooked food VAT elimination. Members of the Retail Grocers Association described their meeting with Philip Davis KC and other government officials as “productive” and “promising”, atlhough they, too, offered few specifics on what was discussed or agreed because the details are still being worked out. One, though, signalled that the elimination of VAT on all uncooked foods - which is due to be implemented from April 1, which is now less than two weeks away - will be done in “stages”. Debra Symonette, Super Value’s president, told Tribune Business in a voice message responding to this newspaper’s inquiries, said: “In a nutshell, it was a very positive meeting. We were able to raise our concerns, which were well received, and efforts will be made to make amendments where possible, which will result in the consumer still getting the break that they have been promised but the grocers will not be left feeling so burdened. So I think we’re making progress.” Horace Miller-Major, Centreville Food Market’s proprietor, who also at the meeting with the Prime Minister, remained relatively tightlipped on the details and outcome. He said the Government working alongside the industry is “a good sign”, and hinted that eliminating VAT on unprepared foods from April 1 - taking the rate from 5 percent to zero - will be implanted in stages. “It's still in the works,” Mr Miller-Major said. “I will say that it was a very good meeting. The Prime Minister and his staff were very accommodating, and they're working on some things which are beneficial for all parties involved and all stakeholders.
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messaged reply to Tribune Business inquiries. Mr Fountain, while speaking at the 2023 Eleuthera Business Outlook conference, revealed that ticket taxes for his flight to Nassau from Fort Lauderdale were 13.4 percent higher than the actual ticket cost. Taxes worth a combined $163.35 accounted for 53 percent of the total ticket price, and Mr Fountain said then: “I need to address this. I’ve heard it mentioned again yesterday on a sales call by some
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