Getting rid of the old LF Wade International Airport terminal would come at a cost of between $15 million and $20 million, the airport operator confirmed.

Ken Hassard, Skyport’s commercial director, said some options to develop the site require it to be at least partially demolished.

However, those plans were not a priority for the company at this time.

He explained: “When you consider the economic importance of the [new airport] infrastructure to any regional government, especially for small islands that only have one airport, decisions like this project take second, third or fourth place.

“The normal focus of the industry is to facilitate tourism and outbound travel for the local population.

“Since the pandemic, our top priority is recovery of Bermuda hotel capacity, without which air service development for full traffic recovery is impossible.”

Mr Hassard, who has more than 30 years’ experience in airport commercial development, said in 2022 that the old terminal could become a hub for renewable energy and that Skyport was working with Rego Sotheby’s for a study of best uses for the land.

Speaking to The Royal Gazette this week, he did not provide details on the study results, but said he was not surprised by the estimated cost to demolish the building, as Skyport had been based there after it took over airport operations in 2017 until the new terminal opened in 2020.

Mr Hassard said the old terminal, built during the Second World War, contains hazardous materials such as asbestos, which must be removed by professionals.

He explained: “These are things that, when you add to the other costs of operating, the cost of electricity and supply-chain costs, [the $15 to $20 million estimation] is not surprising to me at all, because that is the experience we’ve had.”

Aaron Adderley, the president of Skyport, said in 2020 that the facility “had exceeded its life expectancy and deficiencies become ever more apparent”, and “the need to build a purpose-built-modern facility became paramount”.

The terminal that travellers use today totals more than 288,000 square feet inside and consists of several lounges, retail stores and restaurants, some of which are open to non-passengers and airport staff.