A press release issued this week has announced that BVI Airways has been sold. According to the document the company was bought by a New York-based merchant bank, and it was opined that the new arrangement was a step in the direction of fleet and route expansion.

It was noted that one of the routes being eyed by BVI Airways is the Eastern Caribbean that is presently predominantly serviced by LIAT. The release further announced that “effective with the sale, long-time aviation industry executive, Jerry Willoughby, has been named President and CEO. He joins BVI Airways co-founder and Chief Operating Officer (COO), Luke Smith, on the airline’s executive leadership team.”

The new President and CEO, Mr. Willoughby stated that BVI Airways presents a unique opportunity to fund the expansion of a well run carrier with a superb safety and compliance record along with a reputation for excellent on-time performance and customer service. “We look forward to building upon BVI Airways’ already solid foundation by working closely with the various communities we serve to tailor our routes and flight times in an effort to optimize passenger convenience, while also keeping costs in check,” he added.

It was also mentioned that BVI Airways will be expanding its fleet in the coming weeks, adding a second Jetstream 32 aircraft during the upcoming summer. The carrier’s existing Jetstream 32 is currently in the United States undergoing a comprehensive retrofitting program in line with the sale. New turbine engines, an upgraded interior, and a fresh new livery will greet BVI Airways passengers once the aircraft returns to service on 7 April 2014.

“New aircraft will also mean new destinations,” added Mr. Willoughby. “We’ve got exciting plans to better connect the Eastern Caribbean in the coming months. BVI Airways is about to take off.”

Mr. Smith was quoted saying: “We are extremely fortunate to source in one transaction the type of growth capital and executive-level aviation industry talent that can take BVI Airways to the forefront of Caribbean carriers in short order…With our capital base and management infrastructure fortified, we now have the tools and resources to expand and reward the traveling public in the Eastern Caribbean with an elevated level of air service, professionalism, and reliability.”