Caribbean Airlines has been warned it has two years to turn around its finances or face closure.
Trinidad and Tobago’s Prime Minister, Kamla Persad-Bissessar, said the airline has not produced an audited financial statement for nine years and that none of its routes are currently profitable.
“Not one single route is bringing in a profit, yet millions are being spent on the airline,” she told supporters.
The Prime Minister warned that the future of management and staff depends on a swift recovery. “Your future is in your hands,” she said.
Caribbean Airlines, which operates regional services including flights from Antigua and Barbuda, has been under increasing pressure over mounting losses and a lack of transparency.
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socialism at work! Trinidad is the epicenter of Government State Owned Enterprises!
Something I expected more from the InterCaribbean! I guess you truly shouldn’t judge a book by its cover! All in favor of LIAT Air say “I”……
All these flights and new flights added and they aren’t making profit? Thats is something very much crazy and wild to me!!
She claimed it didn’t make any money in the last 9 year’s, which was the term of the last administration. The question one has to ask is, was it making money was her government was in office?