Caribbean Airlines projected to make a $16 million loss

The Trinidad & Tobago-based Caribbean Airlines is projecting a loss of just under TT$100 million (US$16 million).

According to the twin-island nation’s Finance Minister, Larry Howai, the airline has been enduring a difficult period but may now be emerging from it.

“Caribbean Airlines has had some struggles getting its accounts done, they should be able to bring them up in a couple of months. It has not been very good news but they have narrowed the loss down,” he said.

According to its financial statements for 2012, the airline, which a few years ago merged its operations with the then cash-strapped Air Jamaica, registered losses that moved from US$43.6 million in 2011 to US$83.7 million in 2012. -(CMC)