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IMPACT OF HURRICANES IRMA AND MARIA | 9 Months Ended
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Sep. 30, 2019
IMPACT OF HURRICANES IRMA AND MARIA |
IMPACT OF HURRICANES IRMA AND MARIA | 6. IMPACT OF HURRICANES IRMA AND MARIA ​ During September 2017, the US Virgin Islands economy, the Company’s customer base and its operations in the US Virgin Islands were severely impacted by Hurricanes Irma and Maria (collectively, the “Hurricanes”). Both the Company’s wireless and wireline networks and commercial operations were severely damaged by these storms and as a result of the significant damage to the wireline network and the lack of consistent commercial power in the territory, the Company was unable to provide most of its wireline services, which comprised the majority of its revenue in this business, from mid-September 2017 through a majority of 2018. The Company received insurance recoveries of $34.6 million in February 2018 to aid its recovery from the impact of the Hurricanes. ​ During the nine months ended September 30, 2019 and September 30, 2018, the Company spent $0.1 million and $78.9 million, respectively, for network restoration and resiliency enhancements that allowed the reconnection of a significant majority of affected households and businesses as of the period end. The Company believes that the work it will do to restore its wireline network is substantially complete, however whether the Company’s revenue recovers to pre-Hurricane levels will be impacted by population movements, the negative economic impact the Hurricanes had on the local economy, and the Company’s subscriber base’s future appetite for continued wireline services.

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