Regional carrier Caribbean Airlines Limited (CAL) in its first quarter performance this year reported US$25.7 million or TT$172.7 million in losses — a 75 per cent downturn in revenues when compared to the corresponding period of last year.

Since the outbreak of the novel coronavirus pandemic last year, the airline has had to deal with severe financial fallouts which saw it incurring operating losses of over US$109 million. This, as the global travel industry continues to deal with additional pressure from imposed travel restrictions along with the ongoing restriction of operations at its Trinidad base.

 

“The announcement that the borders of Trinidad and Tobago may soon reopen is welcome news, but all forecast suggest that the recommencement of travel will not be in the same volumes as they were pre-COVID. Therefore, until air travel regains its pre-COVID momentum the airline will need to adjust its operations to cater for a reduced scale of demand after the opening of the borders,” CAL said in a news release this week

https://www.jamaicaobserver.com/business-observer/caribbean-airlines-downsizes-due-to-covid-19-losses-450-jobs-to-be-retrenched-as-company-seeks-to-restructure_224291?profile=1056