(Trinidad Guardian) Caribbean Airlines is expected to send home a quarter of its employees across its regional and international network—some 450 workers in total.
The company made the disclosure in an official statement released today, in which it revealed losses of some TT$172.7m (US$25.7m) and a 75% decline in revenue, for the first quarter of 2021.
CAL says the retrenchment is necessary, in order to help the company survive in the short to medium term, notwithstanding current moves to reopen T&T’s borders and facilitate international travel, once more.
“After implementing several short-term measures to stabilize the airline, regrettably, the Company is now left with no choice but to undertake further solutions based on its existing needs,” the company’s release explains. “Even with the pending re-opening of the borders of Trinidad and Tobago, travel demand is not expected to be the same as pre-COVID and current passenger demand is not going to recover sufficiently to support the existing company structure.”
