Management of Caribbean Airlines has been transferred from Trinidad and Tobago’s Finance Ministry to its Transportation Ministry, government officials announced this week.
The airline, which serves as the flag carrier of both Trinidad and Tobago and Jamaica, is reportedly facing severe financial headwinds, made worse by the recent surge in global jet fuel prices. Earlier this month, it denied a report that it was on the brink of collapse.
Transportation Minister Eli Zakour will now oversee Caribbean Airlines. In a statement, Zakour said he will prioritize improving efficiency and addressing the carrier’s “financial challenges.”
According to the Trinidad and Tobago Guardian, the airline has not produced a properly audited financial statement in years, despite spending millions of dollars on an outside financial review. It reportedly incurred considerable losses from its past ownership of Air Jamaica, which ceased operations in 2015.
Caribbean Airlines, often abbreviated as CAL, serves destinations throughout the Caribbean and helps link the region to the U.S., with regularly scheduled flights to and from Miami, Fort Lauderdale, and Orlando in Florida and New York-JFK.
The airline is owned by the governments of Trinidad and Tobago and Jamaica, with Trinidad and Tobago holding the majority of the company.
