Port-of-Spain, Trinidad and Tobago, W.I. October 31, 2018 – Caribbean Airlines reported a summary of its unaudited financial results, for the nine months ended September 30, 2018, which show the airline has moved into an operating profit and is net income positive for the year-to-date.
The unaudited accounts for the nine months to September 30, 2018 show Earnings Before Interest and Taxes (EBIT) of positive TT$96m – this is comprised of TT$118m on international and other operations and negative TT$22m on the domestic air bridge.
The airline’s total net income of TT$48m is comprised of TT$83m on international and other operations and a loss of TT$35m on the air bridge.
Year- to- date total revenues showed a 15% year-on-year improvement of TT$291M. Fuel of TT$450.4M was a major expenditure for the same period, compared to TT$345.5M in 2017 resulting in a year-on-year increase of TT$104.9M.
Caribbean Airlines’ improved performance has been achieved despite the aforementioned losses on the air bridge which continue to occur. Since 2005, the adult fare on the air bridge has been fixed at $150 one way, irrespective of rising fuel costs, for which the airline receives no subsidy. The actual breakeven fare on the air bridge is $300 one-way. Of that sum, the passenger currently pays $150, the Government subsidy to the adult passenger only is $50 (children receive no subsidy from the Government) and Caribbean Airlines absorbs the loss for the remaining $100 or $150 depending on if the passenger is a child but occupying a seat.
With respect to the improved performance, Mr. S. Ronnie Mohammed, Chairman, Caribbean Airlines, states: “This is an exceptional achievement for Caribbean Airlines, particularly against a headwind of higher oil prices and our increased support of the domestic operations. We consider this to be great news for the Caribbean Region, driven by the team’s high level of professionalism, efficiency and customer focus”; and
Mr. Garvin Medera, Chief Executive Officer, Caribbean Airlines adds: “This success is testimony to the commitment of our employees and to the loyalty of our customers, who support us throughout the network. There is still more to do to build on this foundation, particularly as we enter a traditionally challenging time of year.”
Other highlights for the period January to September 2018:
- Improved cargo and freighter revenue and profit
- Increased passenger numbers and load factors on many key routes
- Launched new products, features and services including: Caribbean View, Caribbean Upgrade, Caribbean Plus, Caribbean Explorer, online Caribbean Miles redemption, Online Webchat, WhatsApp Chat, and Caribbean Café.
- Introduced New services from Port of Spain to Cuba and from St. Vincent to New York
- Developed New Cargo website
- Executed interline ticketing with Hainan Airlines
- Introduced online interline bookings with three Regional Partners
- Caribbean Airlines has ranked 25th out of 164 global airlines for September 2018, for on-time performance by the OAG (Official Aviation Guide) Star Ranking.
- Voted as winner of ‘Caribbean’s Leading Airline’ for the eighth consecutive year and was also selected as the ‘Caribbean’s Leading Airline Brand 2018’
- Air-Bridge Performance: Total Flights Operated: 11,372; Total Seats Provided: 805,233 and Total Passengers carried: 716,299
Caribbean Airlines sincerely thanks its valued customers and stakeholders for their continued support and patronage.
Buy LIAT already!!!
That’ll be the death of them.
Two things they shouldn’t do is
1. Buy Liat
2. Fly to Dominica
Both those things will be the end of this enterprise.
Does Caribbean Airlines fly into Dominica? If so at which airport? To me I have seen Caribbean Airlines in St. Martin, Antigua, Barbados, St. Lucia, St. Vincent, Grenada and I would expect Trinidad but never have I seen them in Dominica. Am I correct or somebody please tell me I am wrong nou. I know we just celebrated our 40th anniversary but can somebody tell me if we have a nonstop to anywhere in the US, Canada or the UK? No I am not referring to when its election time because I know we have direct flights on private jets. Now I have a friend in the US that wants to come down by month end but they told me they don’t want to go by sea and they only have 3 days for the trip. We checked the web and saw we can get a 3.5 hr, flight to just about anywhere in the Caribbean, except Dominica and the bad thing is, when they get to any of the island they must overnight to get to Dominica and the price to fly from any Caribbean island to DA is almost three times flying from US. Can any help?
The type of aircraft is too big for the airport in Dominica..they operate with Boeings . They can only come to Dominica when there’s an international aairport which comes with longer runways and Gates
The do have ATR’s so they can fly into Dominica. The fly into St. Lucia’s Vigie (George Charles) which is the size of Melville HAll
I often wondered the same? Why does Caribbean airline not fly to Dominica and no it is not limited by aircraft size since they also fly the same atr planes in their fleet as list does. As a matter of fact these are the planes they generally use foreigner island travel and use the Boeing for longer flights to Jamaica, Guyana and Canada for example. I fly Caribbean airline all the time but when comes to Dominica it is the only country not on the route. The minister responsible for aviation need a to answer this question. We are stuck with liat when there are other regional alternatives.
To: Questions&Answers
Hello and good afternoon my people. No,No Caribbean Airlines don’t go to Dominica. The Prime Ministers from Barbados,St Lucia,St Vincent have all outsmart Dominica Prime Minister. Tell your friend to take an overnight flight to Barbados or Puerto Rico then switch. take the first flight on Liat or Seaborne Airlines to Dominica. I have flown on Carribbean Airlines to Trinidad & Tobago seven times for carnival and they used the same aircrafts as Jet Blue,AA and Delta. One can avoid overnighting by proper planning . So please tell your friend to visit sweet Dominica but plan properly. There isn’t any direct flight to Dominica from the US,Canada or the UK. Sorry. Also tell your friend to be careful in Barbados because they tried to impound my money but I had my withdrawal slip from my bank in New York.