Its unfortunate but.... I am not surprised that Caribbean Airlines Limited (CAL), formerly BWIA, is operating at a loss currently. Trinidad & Tobago natuonal aurline always operated at a loss. Apart from sub-standard leadership and poor internal management, CAL is also victim of the global airline industry that has failed miserably in profitability across the board. 2002 to 2011, the 3 largest legacy airlines (American, United and Delta) have filed for bankruptcy. Each had merged with other airlines US Airways, Continental and NorthWest respectively, that had also sought legal protection from creditors. The official reasons given ranged from the dubious (increased fuel prices, which would seem to affect every player in the industry equally) to the more candid (competition from low-fare rivals.) Bankruptcies have become a way of life for the older carriers in the U.S. aviation industry, every major one having to reorganize in recent years. Until some new methodology in operating the airline industry arises CAL and other global airlines will be money pits.
Posted on: Fri, 12 Sep 2014 21:48:43 +0000