Imbert: CAL lost $3.5B under PP

FINANCE Minister Colm Imbert says State-owner Caribbean Airlines Ltd (CAL) lost $3.5 billion under the previous People’s Partnership administration.

He was responding to a question in Parliament yesterday on the total profits made by CAL on the Port of Spain to Havana route since its commencement.

Imbert said the total operating profit made by CAL on the Port of Spain to Havana route since its commencement in 2018 amounts to US $944,484 or TT $6.42 million.

“Profit made under this Government by that route. By comparison the Port of Spain to London route, which was commenced by the last government, lost US $36,049,543 or TT $245 million over the period 2012 to 2016.”

He reported between 2010 and 2015 under the last government CAL lost $3.5 billion.

Last month CAL announced a $42 million profit in 2018, the first profit in at least five years.