Caribbean Airlines (BW, Port of Spain) has a debt of approximately TTD35 million Trinidad & Tobago dollars (about USD5.16 million) to the Airports Authority of Trinidad and Tobago (AATT), Carmela Wallace-Shanlin, financial controller of the AATT, told the 17th meeting of the country's Public Accounts Committee, which took place on January 10, 2024.
This debt is 60 days outstanding after the AATT wrote off a TTD205 million Trinidad and Tobago dollars (USD30 million) debt related to the rent of hangar space, head office, and other environs between 2007 and 2019. The state-owned carrier’s tally represents about 50% of all the amount dues currently collectible by the airport authority. Last year, Trinidad and Tobago’s Minister of Finance said the government was subsidising the airline to keep it in the air.
Caribbean Airlines is a wholly state-owned corporation with no subsidiaries. The Republic of Trinidad and Tobago owns 88% of CAL, as it is also known, with the remaining 12% ownership held by the government of Jamaica.
ch-aviation has contacted Caribbean Airlines for comment.
Network plans
Over the next few months, the company is looking to establish a foundation for network growth, taking advantage of the exit of LIAT (Antigua and Barbuda) from the Caribbean market. According to the Budget Statement 2024 from the Government of Trinidad and Tobago, Caribbean Airlines intends to expand its fleet to meet this growing demand through the lease of four additional ATR - Avions de Transport Régional aircraft and three B737-800s, which would bring the fleet size to its pre-pandemic level. The carrier will also look into the lease of five E175 regional jets for intraregional demand.
In the cargo department, Caribbean Airlines is leasing two ATRs and two B737-800s to expand its services across the region.
The ch-aviation fleets shows Caribbean Airlines currently operates a fleet of 20 aircraft, including ten ATR72-600s, nine B737-8s, and one B767-300ER(BDSF) wet-leased from Northern Air Cargo (NC, Anchorage Ted Stevens).
