Trinidad: State-owned Caribbean Airlines turns a profit for the first time

by Caribbean Chronicle
5:19 pm UTC, October 11, 2019

(Trinidad Express) Prime Minister Dr Keith Rowley said yesterday State-owned Caribbean Airlines is in the black “for the first time”. Speaking at the “Spotlight on Budget 2020” forum at the Radisson Hotel, Port of Spain, the Prime Minister said from losing over US$600 million in the last eight years, the airline turned a profit of US$4 million in 2018.

“Black is appearing on its books for the first time because we are doing things differently,” he said.

According to Rowley, the airline incurred losses in the past as follows:

  • 2010 – US$61 million;
  • 2011 – US$87 million;
  • 2012 – US $196 million;
  • 2013 – $US$70 million;
  • 2014 – US$62 million;
  • 2015 – US$39 million;
  • 2016 – US$82 million;
  • 2017 – US$24 million.

In 2018, the profit was US$4 million.

Source: Stabroek News.