Advertisement

Caribbean Airlines under scutiny ahead of release of audits

Caribbean Airlines (CAL) is under scrutiny amid signs that it will be tardy in releasing another of  set of  audited results.
 
In e-mailed responses to the Trinidad Guardian newspaper, the airline admitted that its 2015 financial statements have not been produced on time.
 
Caribbean Airlines says the field work for the financial year which ended on December 31, will commence next month.
It added that the audit for the financial year ending December 31, 2014 is in progress and is expected to be concluded by October this year.
   
A recent newspaper article in Trinidad criticised the airline, and the three administrations since its establishment in September 2006, for failing to publish CAL’s audited accounts.  
 
The airline said some audited financial statements have been adopted by the board of  directors and the shareholders and submitted to the Ministry of  Finance.
   
Questions have also been raised about the delay in appointing a chief executive.
   
The post has been vacant since Michael DiLollo resigned last October.
  
DiLollo, who cited personal reasons for his departure, worked at the airline for 17 months.
   
Caribbean Airline's Chairman Philip Marshall subsequently announced that Chief  Financial Officer Tyrone Tang would act in the position as chief  executive.    
        
Meanwhlle former Minister in Trinidad and Tobago's Ministry of  Finance, Vasant Bharath, has called for disclosure regarding Caribbean Airlines' operations including its routes.             
  
In an interview with the Guardian newspaper, Bharath said neither CAL nor the government had provided details on the plan to maintain certain routes.
 
Bharath called for the airline to disclose which routes it intends to keep, which ones are making losses, and if  they will be maintained.
   
The former Minister suggested there is no strategic direction when it comes to the management of  Caribbean Airlines, including the strategy for generating additional revenues.


comments powered by Disqus
Most Popular
Would-be robber disarmed, fatally shot by...
Questions raised about IC handling of PM's...