Bahamasair continues to struggle amid loss

Davis revealed that Bahamasair had recorded a loss of US$11.7 million last year as compared with US$9.8 million in 2011 and that for the period July-December 2012, the airline’s revenue amounted to US$37.4 million, while expenses totalled US$49.1 million.

“The increase in net loss has been attributed mainly to challenges associated with an aged fleet of aircraft along with increases in airport and fuel charges,” Davis told legislators.

Davis said that a position paper/business plan for Bahamasair has been prepared by its management and was presented to government for consideration with a view towards changing Bahamasair’s business model.

But the minister noted that from a financial standpoint, the airline continues to struggle.-(CMC)

Pages: 1 2