The unaudited results of Caribbean Airlines Ltd for the nine months ending September 2019 showed earnings before interest and taxes of TT$121M, comprising of TT$153M on international operations.
However, the airline lost TT$32M on the domestic air-bridge.
Revenue for the period was TT$2.3B, up 3.8 per cent.
A statement issued by CAL attributed the implementation of new technology, expansion of the airline’s route network, an increase in passenger demand and cargo business together with enhanced cost management as some of the elements which contributed to the airline’s success over January to September 2019.
Garvin Medera, CAL’s Chief Executive Officer said, “It has truly been a breakout year for Caribbean Airlines.”
He added, “Another strong financial performance means we can continue our investments into new planes and services for our customers, building a better place to work for our employees, and supporting communities across the Caribbean through sponsorship, economic activity and global connectivity.”
CAL noted that key financial highlights for the period included increased cargo revenue by 14 per cent and year on year profit increase by 34 per cent.
Addition of three new cargo interline partners—Alaskan Airlines, Air Canada and United Airlines— giving market access to 50 global destinations, CAL said.
Other financial highlights included increased duty free revenue by 1.1 per cent and year on year profit increase by 36 per cent.
The airline noted that it ranked 96 out of 332 global airlines for on-time performance (OTP).
The report read, “Domestic air bridge provided 872,498 seats and carried 766,776 passengers, ensuring that passengers were serviced as required with adequate capacity. The OTP also averaged 82 per cent within 15 minutes on the air bridge for this period. International operations carried 1,247,592 passengers, with an OTP average of 81 per cent.”