Evaluation opens door to Dutch exit from DC ANSP

GREAT BAY--An evaluation of the Dutch State’s shareholding in Dutch Caribbean Air Navigation Service Provider N.V. (DC ANSP) has found that the public interest in safe air navigation services is already largely protected through existing international and national regulations, meaning there is no clear necessity for the Netherlands to remain a shareholder in the company.

The report examined whether the Dutch Ministry of Infrastructure and Water Management should continue to hold its 7.95 percent stake in DC ANSP, which provides air navigation services in the Curaçao Flight Information Region, including the airspace above Bonaire. The evaluation found that the Dutch State’s shareholding did not arise from a specific policy choice tied to protecting the public interest, but rather from the 2010 constitutional restructuring of the former Netherlands Antilles.

According to the report, safe and efficient air traffic remains a public interest, particularly for Bonaire, but the existing legal framework already provides sufficient safeguards. The evaluation points to ICAO standards, Dutch BES aviation laws, regulatory oversight, and the formal designation of DC ANSP as the service provider for Bonaire as the main instruments protecting that interest. It also notes that Princess Juliana International Airport N.V., which handles comparable services for Saba and St. Eustatius, is not a Dutch state participation.

The report further concludes that there are no legal, operational, or practical barriers preventing the Netherlands from selling its stake to one of the existing shareholders, Curaçao or St. Maarten. It states that DC ANSP is financially stable, with stronger results in 2022 and 2023 after the pandemic-related decline in 2020 and 2021. Revenue rose to NAf. 33.2 million in 2023, while equity increased to NAf. 44.2 million.

At the same time, the evaluation identifies one major concern: proportionality. The report warns that transferring the Dutch stake could increase pressure to extract dividends from DC ANSP, rather than allowing earnings to support service quality, continuity, or lower air navigation charges. It notes that Curaçao and St. Maarten have pushed for dividend distributions since 2017 and that a dividend was paid in 2024 based on the 2022 result, despite the preference of the Dutch ministry not to distribute one.

The evaluation says this creates a risk that funds which could otherwise be used to improve services or reduce tariffs may instead be paid out to shareholders. In turn, that could contribute to higher-than-necessary air navigation charges and eventually affect the affordability of air travel to Bonaire. The report therefore stops short of recommending an immediate sale and says the proportionality of any divestment must be examined further.

DC ANSP told evaluators that it values the involvement of the Dutch State and would prefer continuation of the shareholding arrangement, including the Dutch role in nominating a supervisory board member. Still, the report says the Dutch State’s limited share means it can exercise only modest influence and cannot force decisions, as shown by the dividend payment.

As a next step, the report calls for a further exploration into whether divestment would be proportionate, with particular focus on the potential long-term effect of dividend extraction on financial stability, service continuity, quality, and costs. Any formal move to sell the participation would also require parliamentary involvement in the Netherlands.

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