The embattled Caribbean Airlines (CAL) is reporting that it has been making “significant progress” in pursuit of its eagerly anticipated restructuring plans, having been the victim of a severe COVID-19 economic blowout and even prior to that a considerable erosion in consumer confidence in a region where it had previously been lauded for its service.
Back in June, CAL had underlined the extent of the ongoing crisis it has been experiencing by declaring a 75% revenue decline this year compared with the same period in 2020. Simultaneously, CAL had announced the shedding of at least 450 jobs from its workforce. In effect the airline was reporting the continuation of a similar perform-ance downturn in 2020 during which it had endured an operating loss of TT$738 million compared to operating profits for 2018 and 2019.
