Is Caribbean Airlines facing a cash crunch?
Caribbean Airlines (Port of Spain) according to this report by the Trinidad Express Newspapers, has failed to meet its promised $5 million payment to Children’s Life Fund, a charity favored by the Prime Minister of Trinidad and Tobago.
Also according to the report, CAL owes National Petroleum approximately $29 million for aviation fuel.
The airline has recently reduced staff in the Air Jamaica operation.
Also according to the report, the airline has been unable to take delivery of the third and fourth new ATR 72-600 due to not being able to meet the payments.
As the flag carrier, Caribbean Airlines receives a fuel subsidy which grounded REDjet did not receive and was critical.
Finallly, the airline is also reportedly looking at its two-brands policy (maintaining the Air Jamaica brand).
Read the full report: CLICK HERE
Copyright Photo: Tony Storck. This Boeing 737-800 wears joint titles.
Caribbean Airlines Slide Show: CLICK HERE