Caribbean Airlines lost TT$96m in 5 Weeks Through COVID-19

caribbean airlines

Trinidad – Caribbean Airlines reported $96 million in losses over a five-week period owing to the COVID-19 pandemic, said Minister in the Finance Ministry Allyson West.

She was responding to a question in the Senate on Monday on the estimated financial loses experienced by the airline over the period March 23-April 30 as a result of the covid19 pandemic.

West said the losses experienced by CAL took effect from the beginning of March and before the closure of national borders since the demand for air travel had already been significantly reduced locally.

“The impact was further exacerbated following the closure of our borders at midnight on March 22, 2020.”

She reported CAL estimated its operating loss for the period in question at US$14.2 million or TT$96.1 million.

West explained that as a wholly-owned state enterprise, CAL complied with government policy during the covid19 pandemic and maintained all its staff on payroll. She added that, notwithstanding air travel being severely restricted, CAL was able to keep its aircraft leases up to date and ensure that its aircraft are airworthy and all systems are functioning in readiness for flights to resume.

HT – Trinidad & Tobago NewsDay