Caribbean Airlines Delivers Strong Financial Performance

AT Staff

4 years ago

November 26, 2019 Caribbean Airlines ATR 72-600 Caribbean Airlines ATR 72-600 | ATR Share Tweet Share Share Email Comments (adsbygoogle = window.adsbygoogle || []).push({});

Caribbean Airlines reported its unaudited summary financial results for January – September 2019, which show the airline continues to achieve an operating profit.

The implementation of new technology, expansion of the airline’s route network, an increase in passenger demand and cargo business together with enhanced cost management; are some of the elements which contributed to the airline’s success over the period.

The unaudited results for the nine months ending September 2019 show Earnings before Interest and Taxes (EBIT) of TT$121m, comprising of TT$153m on international and other operations, and negative TT$32m on the Domestic Air-Bridge, between Trinidad and Tobago. Revenue for the period was TT$2.3bn, up 3.8%.

Garvin Medera, Caribbean Airlines Chief Executive Officer, said:

“It has truly been a breakout year for Caribbean Airlines. Another strong financial performance means we can continue our investments into new planes and services for our customers, building a better place to work for our employees, and supporting communities across the Caribbean through sponsorship, economic activity and global connectivity.”

S. Ronnie Mohammed, Caribbean Airlines Chairman, added:

“Caribbean Airlines continues to develop a strong, sustainable platform to extend its reach and services in the future. We thank all our customers and employees and, our gratitude as always for the full support of the Trinidad and Tobago government.”