DRC review9 Jul 2024 08:38
Little reminder from the DRC Contract RNS:
"As part of the programme, Westminster will also be establishing an aviation security training academy to provide certified training to international standards for all aviation security ('AVSEC') staff within the country, ensuring that DRC's AVSEC staff are amongst the best trained, motivated, and valued in the entire region.
The contract is based on Westminster's managed services model successfully deployed elsewhere in Africa. Revenues will be driven by embarking passenger numbers using the airports and funded by a per passenger fee, denominated in US$, collected through the ticketing system and payable directly to Westminster by the airlines or a suitable collection agency such as the International Air Transport Association ('IATA'). Based on current international embarking passenger levels, the contract is expected to generate revenues of circa US$10m in the first 12 months of operation. In addition, there is an opportunity under the contract for further revenues, in due course, from domestic traffic and cargo screening operations.
The contract includes a 90-day transition period to allow for operational planning and recruitment processes to be completed. Operations and revenues are therefore expected to formally commence in July 2024, although Westminster will immediately deploy its transition team to commence planning, recruitment, training, procurement and logistics.
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Will be interesting to get an update on the 'aviation security training acadameny'... which I imagine will already be up and running in some form or other? Will they have moved some UK based training staff to DRC temporarily or will the training be via their online training courses? Probably a mix of both?--- anyway an update on this should be forthcoming in the next few days or weeks.
This is interesting.... ' there is an opportunity under the contract for further revenues, in due course, from domestic traffic and cargo screening operations."----- I didn't clock this before,... --- we have spoken about the possibilities of additional revenue due to freight screening and/or more domestic passenger routes.... and I had thought that this would require new contracts etc.,----- but that appears to be included within the provisions of the existing contract, which is clearly very good news.
90 day transition period is pretty much up,... and the ending of the period has been preceded by confirmation of finance and director buys. So, when will the RNS confirming commencement of operations and a substantitive round up of where we are at drop,... this week, next week?. Can't be long now?- Linton,.???
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