Monday, May 7, 2012
The Trinidadian government has agreed to extend the special fuel arrangement for Caribbean Airline's operations in Jamaica to cover the period January 1 to December 31.
Under the arrangement, there will be a benchmark fuel price of $1.50 per gallon for Caribbean Airlines and $2.34 per gallon for Air Jamaica operations.
TT Finance Minister Winston Dookeran says to date, CAL had submitted claims for the Air Jamaica operations in the amount of US$3,000,000 for the period January to March 31. However, the payment can only be made after the claims are audited by the Central Audit Committee of the Finance Ministry.
Caribbean Airlines has reportedly made a loss of US$52.8 million and Air Jamaica, US$38 million in 2011.
This revelation by TT Finance Minister Winston Dookeran is in stark contrast to a claim by former Caribbean Airlines Chairman, George Nicholas, who stated last November that the airline made a US$200 million profit and Air Jamaica, after the merger, had also made its first ever consecutive profit.
Trinidad's Transport Minister Devant Maharaj is blaming the losses on the People?s National Movement and called on it to apologise for its financial abuse of CAL over the years.
Meanwhile Caribbean Airlines Chairman Rabindra Moonan says he will wait until the new board meets for the first time since he was appointed on April 20, to conduct a detailed review of the entity's finances.