{"id":225362,"date":"2025-02-13T13:31:45","date_gmt":"2025-02-13T17:31:45","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=225362"},"modified":"2025-02-13T13:40:11","modified_gmt":"2025-02-13T17:40:11","slug":"caribbean-airlines-records-over-us12-million-profit-in-2024","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/caribbean-airlines-records-over-us12-million-profit-in-2024\/","title":{"rendered":"Caribbean Airlines records over US$12 million profit in 2024"},"content":{"rendered":"
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SOURCE: CMC \u2013 <\/strong>The Trinidad and Tobago-owned Caribbean Airlines (CAL) recorded an operating profit of US$12.1 million last year, Finance Minister Colm Imbert has announced.<\/p>\n\n\n\n

Imbert, speaking at a customer appreciation event of the airline, said that the profit, which excludes debt service, represented a decline of 51 per cent, compared to the operating profit of US$24.7 million in 2023.<\/p>

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Imbert said CAL had witnessed a remarkable turnaround in its performance in 2023 \u201cmoving from an operating loss of US$36.7 million in 2022 to an operating profit of US$24.7 million, excluding debt service.\u201d<\/p>

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In 2024 the operating profit fell to US$12.1 million, excluding debt service. <\/p>\n\n\n\n

This was due to the following factors\u2014increase in maintenance costs, handling costs and security flight operations,\u201d Imbert said.<\/p>

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\u201cFor 2024, the airline recorded revenue of US$444.6 million an increase of 5.2 per cent. <\/p>\n\n\n\n

This was despite a decline of US$15 per passenger on the international routes due to competition,\u201d said Imbert, noting that the increase in CAL\u2019s revenue \u201cunderscores the resilience and dedication of the entire Caribbean Airlines team.<\/p>

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\u201cA key pillar of the plan is growth, which Caribbean Airlines continues to pursue with vigour and focus. <\/p>

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In alignment with this strategy, the airline has been exploring strategic collaborations, such as discussions with Saudi Arabia\u2019s Air Connectivity Programme, aiming to enhance its network and reflecting its dedication to connectivity between Trinidad and Tobago, the Caribbean, and the global community.\u201d<\/p>\n\n\n\n

Imbert said that as the majority shareholder of the airline, the government has steadfastly supported it, in a way that touches every traveller on the domestic airbridge.<\/p>\n\n\n\n

Imbert said maintaining affordability on the domestic airbridge is such a key transportation policy position of the government that in 2019 a policy decision was taken to increase the ticket subsidy by TT$105 per adult airfare and TT$155 per child each way.<\/p>\n\n\n\n

\u201cIn total, this subsidisation ranged between TT$40 million and TT$73 million per year, over the period July 2015 and July 2024, normalising for the much-needed Government interventions over the COVID-19 epidemic.<\/p>\n\n\n\n

<\/p>\n\n\n\n

\u201cIn that challenging COVID-19 period, government assisted CAL with its obligations to its lessors amounting to approximately TT$285 million, as well as with payments to National Petroleum Marketing Limited for fuel,\u201d Imbert said.<\/p>\n\n\n\n

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CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP SOURCE: CMC \u2013 The Trinidad and Tobago-owned Caribbean Airlines (CAL) recorded an operating profit of US$12.1 million last year, Finance Minister Colm Imbert has announced. Imbert, speaking at a customer appreciation event of the airline, said that the profit, which excludes debt service, represented a decline of […]<\/p>\n","protected":false},"author":12,"featured_media":223142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-225362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured"],"yoast_head":"\nCaribbean Airlines records over US$12 million profit in 2024 - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/caribbean-airlines-records-over-us12-million-profit-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caribbean Airlines records over US$12 million profit in 2024\" \/>\n<meta property=\"og:description\" content=\"CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP SOURCE: CMC \u2013 The Trinidad and Tobago-owned Caribbean Airlines (CAL) recorded an operating profit of US$12.1 million last year, Finance Minister Colm Imbert has announced. 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