Caribbean Airlines posts USD109 million operating loss
The Covid pandemic pushed Caribbean Airlines to a $109 million operating loss in 2020.
It banked revenue of just $118.6 million, which is a big drop from 2019’s revenue of $440 million.
Revenue was wiped out by operating expenses of $228 million, even though the airline managed to cut 2020 costs by 47%.
However, despite the bleak times, CAL managed to add new routes and expand its cargo network.
It also operated many repatriation flights for citizens of several Caribbean nations, said airline CEO, Garvin Medera.
"2020 was the worst year on record for the global travel industry and specifically for aviation. Regrettably, Caribbean Airlines was hit hard," said Caribbean Airlines chairman S. Ronnie Mohamme.
Passenger numbers for 2020 fell sharply by 71% to less than 750,000
In 2019 it carriied 2.5 million passengers.
Written by Ray Montgomery, US Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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