(Trinidad Express) Caribbean Airlines (CAL) is reportedly facing what amounts to more than TT$500 million in debt, but in response to an article printed in a weekly publication which alleged that CAL is bankrupt and its board has been attempting to borrow more than TT$100 million from the Government to pay its staff and suppliers, CAL’s corporate communications manager Clint Williams said he could not speak specifically to the article.
“We prefer not to discuss any specific aspect of the report that we have seen in the media at this time.
“CAL is currently in a stabilisation and transformation initiative and our short- and medium-term goals will see us rationalising cost and driving revenues towards more self-sustaining and profitable operation…the initiative has been developed with full partnership from the board and personnel from the Ministry of Finance,” Williams added. “And at this time we prefer not to comment on specifics of the internal activities, simply to say that the industry demands greater operational productivity and we are moving in that direction.” Quoting from a Jamaican news agency, the local news report further stated that CAL has already fired employees in Jamaica whose contracts came to an end last week and was now weighing its options with regards to Jamaica operations, including a call centre which employs 90 people.
In 2011 when CAL merged with Air Jamaica, CAL took over what were deemed the profitable routes held by Air Jamaica and those operations are now said to be running at a loss, according to the weekly news publication.
