Recent news out of Trinidad and Tobago, CAL's owner, claims that the company is heavily indebted and that its ownership of Air Jamaica is one of the major contributors."
While there's no word on what the response will include, a source told the Jamaica Observer that it may be out as soon as today and should answer some of the questions being raised by regional stakeholders. Among these are the possibility of cutting of routes and additional measures to reduce spending.
CAL recorded an unaudited loss of US$52.8 million ($4.6 billion) for 2011 with Air Jamaica accounting for US$38.1 million of that amount, said Caribbean360.com, an online mediahouse. Trinidad's Finance minister, Winston Dookeran, released the figures in the T&T parliament last week.
Read more: http://www.jamaicaobserver.com/business/Divestment-team-prepares-Air-J-s-response_11525101#ixzz1vlTJ75j3
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