Media reports recently quoted Rabindra Moonan, Chairman of Caribbean Airlines, as saying that he expects Caribbean Airlines flights to break even on its London route sometime in 2013.
Moonan said that the expected break even is earlier than the 3-year period previously anticipated when Caribbean Airlines introduced its route between Port of Spain and London Gatwick about a year ago.
According to Moonan, the Port of Spain-London Gatwick route was to have witnessed six flights. However, the board approved the management’s decision for two weekly flights. Later on, the airline decided to offer three flights every week. The load factor on these flights is nearly 90 percent now. It was expected that it would take three years to break even, but this is coming much earlier and Caribbean Airlines is expected to hit the break-even point sometime this year, which is undoubtedly a good development.
Moonan further stated that the restructuring and transformation program was going on very well and a rapid progress was being made. He also said that Caribbean Airlines is planning to boost its service to New York from Georgetown.