By Renuka Singh (Jamaica
Observer Newspaper)
FRIDAY, December 16, 2011 - CARIBBEAN Airlines Ltd (CAL) is working towards self-sufficiency without a fuel subsidy by the end of next year.
With new projects on stream,
including new routes and the introduction of a "Jet-Pack" courier
service, CAL chairman George Nicholas said the drive toward more profitability
will continue into the next fiscal year.
Nicholas was speaking at the
launch of its direct flights between Barbados and Guyana and the introduction
of a St Lucia service at the company's head office in Piarco earlier this week.
Nicholas,
who has been criticised following his statement last month that CAL has made a
TT$200-million profit in the face of a Government jet-fuel subsidy, said the
subsidy was not "traditionally calculated in the company's profit and loss
statement".
"The
TT$200-million calculation is based on a trend that was submitted to Cabinet in
July. The subsidy is not generally subtracted from the profit and loss
statements. You do not calculate it as a cost to the airline. You don't charge
for a free gift," he said.
"The
fuel subsidy has not been part of the profit and loss statement for the past 20
years," he said.
Nicholas
is however hoping to do away with the entire subsidy issue by the end of 2012.
"We
hope to be fully sustainable by the end of 2012. We have to fly more routes
with better yields. We have the new planes that are more fuel efficient versus
other aircraft," he said.
Nicholas
also said CAL would soon introduce a daily door-to-door cargo service and would
add three cargo 767 planes as a freight service.
"We
are making money any way we can," he said.
The
local carrier's second new ATR plane is expected to be in the country before
Friday.
CAL
has also introduced non-stop services to Barbados and Guyana three times a week
and an inter-island service out of Barbados.
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