KINGSTON, Jamaica – The state-owned Caribbean Airlines (CAL) recorded losses estimated at US$70 million last year, Finance Minister Larry Howai has said.
He told the Senate on Tuesday that the figure does not include the US$40 million in fuel subsidy to the airline, even though he insists that the airline remains solvent.
But Opposition legislator Dr Lester Henry said he was “astounded that the minister could describe as solvent a company which cannot cover its costs and (has) no money in the bank”.
