CP Air Antilles Statutes

The Collectivité of Saint-Martin acknowledges the press release issued by opposition elected officials on Thursday, December 4, 2025, concerning the company Air Antilles, and wishes to set the record straight. The published statements are based on erroneous interpretations, conflations, and inaccuracies.

1. The company Air Antilles is strictly in compliance with the resolution adopted on September 20, 2023.

Contrary to the allegations reported, the company registered on October 30, 2023 fully adopts the legal, economic and organizational structure voted on by the Territorial Council of Saint-Martin:

- Same share capital of €2,000,000;

- Same social distribution between the Collectivité (60%) and the private shareholder (40%);

- Same governance bodies (Chairman, Chief Executive Officer, Deputy Chief Executive Officer);

- Same corporate purpose;

- Same rules of engagement and operation.

The structure voted on in plenary session on September 20, 2023, and the registered structure, describe the same company, in accordance with the will of the Territorial Council.

2. Mandatory formal adjustments without legal impact

The differences noted by the opposition actually correspond to technical additions necessary to allow registration with the registry: address of the head office, identification of the depositary bank, name of the auditor, identity and address of the directors.

These elements, which were not defined or finalized at the meeting of September 20, 2023, do not alter the project, the financial balance, or the company's governance. They fall within standard corporate law practice. Therefore, the two formal adjustments have no substantial consequences.

- The company name (“Air Antilles” vs “New Air Antilles”), which can be changed at any time;

- The unit nominal value of the shares (€1 vs €10), which does not change the overall capital, contributions or shareholders' rights – only the number of shares.

It is therefore clear that the registered company is the one that was validated by the Assembly.

3. No irregularities, no circumvention, no breach of the integrity of the deliberations

None of the modifications mentioned by the opposition fall into the category of a substantial alteration of the project approved by the Territorial Council. Therefore, there are no:

- Neither false;

- No embezzlement;

- Nor illegal taking of interest;

- Nor de facto management;

- Nor any alteration whatsoever to the deliberation of September 20, 2023.

The insinuations of criminal offences put forward by the opposition are unfounded and amount to political dramatisation which in no way reflects the legal reality of the case.

4. No concealment in the takeover bid

The opposition mentions the appearance of a private investor in the submitted version of the takeover bid for CAIRE. This claim is inaccurate:

- The presence of a private financial partner was anticipated from the outset;

- It did not change either the amount of contributions voted or the position of the Collectivité ;

- The elected officials deliberated on a takeover plan whose essential parameters have never changed.

Here again, no alteration of the Assembly's will can be established.

5. Perfectly regular financial decisions

 The amounts committed by the Collectivité were made in strict compliance with the law applicable to local authorities in their relations with SEMs and always on the basis of formal decisions: participation in capital, contributions to current account and support necessary for the continuity of the public air service.

The loan examined on October 6, 2025, complies with the procedures within the jurisdiction of the Territorial Council. It was adopted in session, as required by law.

6. A situation requiring responsibility, not political one-upmanship

 The situation of the company Air Antilles, affected by a particularly unstable regional aviation context, calls for pragmatic solutions, not a strategy of permanent political crisis.

The Collectivité is taking action to preserve:

- The continuity of air service;

- Local employment;

- The protection of public finances.

The repeated calls by the opposition for a legality review, which in fact did take place since each deliberation is necessarily transmitted to the prefectural services, are more a matter of political positioning than a well-founded concern.

In conclusion, the Collectivité reaffirms:

- The SEM project adopted on September 20, 2023 and the company registered on October 30, 2023 describe the same entity;

- No substantial element of the project has been modified;

- The accusations spread by the opposition have no serious legal basis.

In any event, everyone can easily verify this by consulting the draft statutes attached to the resolution of September 20, 2023 and the statutes registered with the clerk of the commercial court.

In a spirit of transparency, the Collectivité of Saint-Martin also remains available to provide any useful details and will continue, with its constant sense of responsibility, the actions necessary for the consolidation of the Air Antilles company and the maintenance of a reliable air service for the territory.