PORT OF SPAIN, Trinidad – Caribbean Airlines (CAL) will not be filing for bankruptcy and is not another BWIA in the making, Finance Minister Larry Howai assured yesterday. “There is no such thought at this stage. The thing is the airline industry is a very difficult industry to manage. Throughout the world we have had a number of different airlines going into Chapter 11,” he told reporters yesterday after the Trinidad and Tobago Manufacturers' Association’s (TTMA) Annual General Meeting at the Hyatt Regency , Port-of-Spain.
Howai was comment on recent news reports that CAL is seeking financing from local banks to deal with a $1.4 billion (US$234 million) debt. He said he does not know anything about that but added they are evaluating the company and will then determine what step to take.
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