Andrea Perez-Sobers
Senior Reporter
andrea.perez-sobers@guardian.co.tt
Caribbean Airlines moved from an operating loss of US$36 million, excluding debt service, in 2022 to a 2023 operating profit of US$24 million, minus debt service.
This was announced by Finance Minister Colm Imbert at the airline’s customer appreciation event on Thursday, at the Hyatt Regency.
Imbert said the information on the airline's financial performance was provided to him by the company’s executive and for this the airline must be applauded for turnaround.
“For the benefit of those members of your staff who may want a huge wage increase, that transition from loss to profit does not include the hundreds of millions of dollars of support that you get every year from the Government, for debt servicing. That's because one of the decisions the Government made is to take over CAL’s debt in those loan arrangements; while we did not take it over totally, we provided debt servicing. That is a continuing obligation of the Government,” Imbert disclosed.
The airline’s chief executive officer Garvin Medera gave the audience an update on improved travel connectivity. He said in the coming months, pending regulatory approvals, CAL will be adding more new destinations.
“By increasing our presence in key markets such as Puerto Rico, Guadeloupe, Martinique and the British Virgin Islands, we will now serve the English, Dutch, Spanish, and French Caribbean territories. We aim to become the principal air carrier in the region,” Medera revealed.
He also stated that the airline will be expanding its Jetpak courier service to other territories in the region, namely Guyana, Barbados, and Jamaica.
“We are currently building new processes and welcoming new people, with roll-out later this year," said the airline executive.
In addition, there will be significant improvements to Caribbean Miles, including transforming the programme so you earn miles based on the amount spent on your flights,” Medera said.
Improving the travel service, Medera said the fast-track security services for departing flights will be launched in the first quarter, and this initiative aims to ease congestion, especially during multiple departures.
Also speaking at the event was CAL’s chairman, Ronnie Mohammed, who said through meticulous data analysis and research, the airline finalised and obtained approval for its 2023 to 2027 strategic plan, focusing on five pillars: people, process, growth, customers and finance.
Mohammed said in 2023, CAL introduced phase 1 of the D' Caribbean Shop at the Caribbean Airlines Duty-Free store in Piarco.
Also, he indicated that technology and automation remained at the forefront of its growth strategy and the Pay Cargo system became a welcome addition, allowing customers to pay for cargo shipments online.
“This initiative, along with enhancements to our website and other developments, was warmly welcomed by our customers. These improvements are all aligned with our commitment to providing convenient and efficient services to enhance your experience with us,” Mohammed added.
During the event, Caribbean Airlines also unveiled new uniforms for staff, designed by Janouras Custom Design Ltd.
Gone are the company’s navy and aquamarine uniforms to be replaced by a ready-to-wear collection of jackets, skirts, shirts, waistcoats, and pants featuring various shades of purple, fuchsia, white, pink, and grey.