News
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$200m CAL WRITE-OFF
PORT OF SPAIN, Trinidad – State carrier Caribbean Airlines (CAL) is facing a potential write-off of approximately $200 million in losses, including $60 million lost from what executives say could amount to credit card fraud related to airline ticket purchases. More than $100 million has already had to be written off from the company’s cargo department. A report submitted to…
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CAL on auto pilot
PORT OF SPAIN, Trinidad – Who’s minding the store? Yesterday, the Sunday Express reported on the millon-dollar write-off at national carrier Caribbean Airlines (CAL) in the midst of the company’s financial turbulence. Part 2 today considers whether CAL is being run in the best interest of its shareholders, the governments of Trinidad and Tobago and Jamaica, by the people appointed…
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Unnecessary calamity
PORT OF SPAIN, Trinidad – The most troubling thing about the current fuss about free travel at Caribbean Airlines is how familiar it all is. During the many decades of the airline’s previous incarnation as BWIA, flights were plagued with freeloading and flight status abuses, whimsical efforts at pampering wealthy, powerful people who were perfectly capable of paying for their…
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Sorry mess at CAL
PORT OF SPAIN, Trinidad – The time has come for the Corporation Sole as represented by Finance Minister Larry Howai to step in and rescue the public interest from the politics and mismanagement at Caribbean Airlines (CAL). With red ink running across the airline’s balance sheets, Minister Howai needs to invoke his authority as the representative of shareholding taxpayers and…
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