Tuesday 25 September, 2018

Caribbean Airlines remains on flight path to profitability

Caribbean Airlines is reporting its first half results for 2018, with revenues and earnings significantly improved on the same period in 2017, despite the impact of higher fuel costs.

Revenue increased year-over -year by US$31.3 million or TT$210 million or 19 per cent, while EBIT (Operating Profit/Loss) improved over the same period in 2017 by US$17.8 million or TT$120 million or 77 per cent. 

"I'm delighted the team here at Caribbean Airlines has seen the results of its hard work with another improved quarter, demonstrating we are making clear and sustained progress on our path to profitability. This is being driven by our focus on a better experience for customers, combined with ever more efficient use of our resources and our route network,” Garvin Medera, CEO said.

Medera added: "At the same time as improving our financial performance, we are also rapidly innovating in technology and services to improve the customer experience. Our latest addition, Caribbean View, provides great inflight entertainment direct to passengers' Wi-Fi devices for no extra charge." 

A number of new products, features and services were announced during the first half of 2018: 

Caribbean View, which officially launches on the 1st August, means passengers can get content including movies, games and music on their devices free of charge via a dedicated app 

Launch of Caribbean Upgrade, which allows customers to bid for and get upgraded to business class seats

Launch of Caribbean Plus, a new option offering additional comfort with extra seat space and boarding benefits on economy fares 

Launch of Caribbean Explorer which gives travelers the ability to go to several islands at one affordable fare 

Online miles redemption

Introduction of Webchat and WhatsApp for Business to enable a personalized digital option for our customers to chat with a call center agent 

Implementation of new routes to Havana and St. Vincent and the Grenadines to JFK, New York 

Other highlights for the six-month period from January to June 2018: 

Line Cargo & Freighter operations Revenue and Operating Profit improvement

Increased passenger numbers and load factors both regionally and internationally

Increased Airbridge capacity and efficiencies to service peaks

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