Stephenville airport has a new owner, as transfer to Dymond Group is finally signed
CBC
The Dymond Group of Companies has closed a deal to acquire Stephenville International Airport, nearly two years after announcing a suite of ambitious plans for western Newfoundland.
"I know what it feels like to be away from home and the joy of getting back to family and community," CEO Carl Dymond said in a press release issued Monday morning.
"We hope this venture is a way home for the many families who had to leave the Bay St. George area. We're hosting an open event at the airport in the coming weeks to discuss shared success over a cup of tea."
A document transferring ownership of the airport to Dymond was filed at the provincial registry of companies late Friday afternoon. It was signed by Stephenville Airport Corporation chair William MacNeil.
The finalization of the transaction was a long time coming; the initial deadline was the end of 2021, but the process dragged on, in part because of a historic insolvency proceeding involving the airport. That was finally resolved this spring.
The way is now clear for Dymond to follow through on commitments he first expressed at a press conference in Stephenville on Sept. 9, 2021.
That included a manufacturing facility to build unmanned drones the size of a Hercules — "some of the biggest in the world," he said — 117 feet long and 80 feet wide, with the ability to carry 52,000 pounds of cargo.
"We're pledging to keep commercial aviation in Stephenville," Dymond also said at the time.
"What we want to do is we want to be able to bring these major airlines in here again. We want to put bums in seats."
And he said his plans would mean a major injection of private-sector money.
"We're also going to contribute an early investment of $200 million into the airport infrastructure, and to the community," Dymond said. That included a new fire hall for Stephenville.
Asked by CBC News in 2021 about job projections associated with his plans, Dymond said it could mean up to 5,000 workers "over the next couple of years."
According to the sale transfer documents, the Ottawa-based Dymond is acquiring the airport for $6.90, plus the payment of just over $1 million in existing liabilities.
CBC News first reported those numbers a year ago, in a report that a Dymond official described as "inaccurate."
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