Business

V.I. Port Authority Breaks Car Rental Monopoly at Cyril E. King Airport

A break in the car rental quasi-monopoly at the Cyril E. King airport is coming soon, after the Virgin Islands Port Authority approved the renegotiation of leases for the existing three rental desks to clear the way for the addition of two new vehicle rental concessions. At a board meeting on Wednesday , VIPA board members discussed the length of the proposed leases, the space allocation given to each agency, and the location of the new rental desks. The board considered seven-year leases for the existing concessions, with a seven-year renewal option for the Budget, Hertz and Avis car rental agencies. The new leases would be non-exclusive, meaning that the two new proposed concessionaires, Centerline Car Rental and Premium Car Rental, would be cleared to operate, with desks proposed at Gate 11. This would allay board members’ concerns about the near monopoly currently being enjoyed. Two of the existing agency franchises are owned by a company controlled by one individual, while the t...