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Caribbean Airlines takes to the skies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
A slimmed down new national carrier of Trinidad and Tobago has taken to the skies. Caribbean Airlines, replaced BWIA, which operated for 66 years, from January 1. BWIA had a history of heavy losses. A spokeswoman said the deficit for 2006 was expected to be $50 million, up from 26.9m in 2005. The government, which held more than 97 percent of BWIA's shares, approved a capital injection of $250m for the creation of the new carrier. Caribbean Airlines will provide air transport within the Caribbean and to major international cities but on fewer routes than BWIA. "New Era" It will employ 500 to 700 people. At its closure, BWIA employed about 1,800 people. Several attempts to turnaround the airline's fortunes failed, including the severing 600 workers in 2003. Chief Executive Officer, Peter Davies, said he believed that Caribbean Airlines marked the start of a "new and dynamic era in Caribbean aviation." He said: "Whatever its ups and downs, its successes and failings, BWIA has generated loyalty, affection and pride ... and a wide Caribbean public understands BWIA as an essential part of the Caribbean landscape." | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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OECS and IMF: a new deal
