(Trinidad Guardian) Chief Executive Officer of Caribbean Airlines (CAL) Michael DiLollo has quit after just 17 months on the job. The 48-year-old Canadian national, citing personal reasons, resigned with immediate effect. His resignation has been accepted by the state-owned airline’s board of directors.
CAL staff were informed of the resignation via a memo from the airline’s chairman Phillip Marshall who also announced that chief financial officer Tyrone Tang will act as CEO until a permanent replacement is found. DiLollo was appointed CAL CEO in May 2014 following the sudden resignation of Robert Corbie in September 2013.
In an interview with T&T Guardian earlier this month, DiLollo said CAL did not need a bailout just yet. He said the airline had benefited from extremely patient shareholders for years and he believed the airline was strategically positioned to break even in three years. In early February, then finance minister Larry Howai told Parliament that unaudited accounts for 2014 showed the airline made a loss of US$60 million, inclusive of its Air Jamaica operations, and the airline planned to break even by 2017.
Howai had also told the Parliament that a five-year strategic plan had been completed and was in the process of being approved for implementation.