(Trinidad Express) Caribbean Airlines has announced that it lost more than TT$326 million in the fix six months of 2021.
In a statement yesterday, CAL said that in a year when the airline and travel industry were pulverised by the COVID-19 pandemic, its unaudited financial results for the six months ( ended June 2021 reflected the depressed market conditions with an operating loss of TT$326.6m (US$48m).
” The airline’s performance was consistent with the same period for 2020, when it reported an operating loss of TT$331m (US$48.7m). Total revenue generated for the (6) months ended June 2021 was TT$264.9m (US$39m), a decline of 54% or TT$306m (US$45.7m) over 2020 due to a 44.8% drop in passenger numbers as a result of the pandemic.” According to CAL, tThe Government of Trinidad and Tobago provided financial support to assist the airline with expenditure commitments.
” To cushion the impact of the dramatic decrease in passenger traffic and consequent revenue collapse, Caribbean Airlines offered cargo charters using its passenger planes and operated repatriation and other special services on request from regional Governments. The airline also took the proactive decision to adjust its planned strategy in response to managing the impact of the pandemic. “
CAl said that globally, 2020 was confirmed as the worst year in the history of aviation, recording the largest ever decline in air passenger numbers, with a stagnated outlook projected for 2021.
