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Saturday 17 November 2018
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CAL reports to Cabinet

FILE PHOTO
FILE PHOTO

State carrier Caribbean Airlines Ltd has reported to a Cabinet sub-committee, giving an update on its most recent financial results and operational outlook.

A release from the Office of the Prime Minister on Thursday evening said a CAL team, comprising chairman Shameer Mohammed, deputy chair Michael Quamina and CEO Garvin Medera met with the Cabinet team, chaired by CAL's line minister, Finance Minister Colm Imbert, Planning Minister Camille Robinson-Regis, Public Utilities Minister Robert Le Hunte, Tourism Minister Randall Mitchell, National Security Minister Stuart Young, Works and Transport Minister Rohan Sinanan, and Minister in the Ministry of Finance, Alyson West. There was also discussion of some of CAL’s future plans.

CAL's most recent financial update suggested a $120 million increase in revenue year on year for the first six months of 2018, and reduction in overall losses by $120 million, compared to the same period last year, an improvement noted by the committee.

CAL has not produced financial statements since 2015, when it reported a US$60 million loss for the year.

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