Can regional airlines learn from British Airways?
published: Friday | May 30, 2003 By Al Edwards, Business Co-ordinator THE COMMERCIAL airline industry has been experiencing a downturn and nowhere is that more evident than in the Caribbean. With BWIA on the brink of bankruptcy, the Government of Trinidad & Tobago is having talks with the lessors of its airplanes in order to keep the company airborne. This comes as the International Finance Leasing Corporation has said that it will seize all BWIA’s aircraft unless it meets its financial obligations. With BWIA owing International Finance Leasing Corporation US$21 million in outstanding maintenance reserves and lease rentals, it was forced last week to seize two of BWIA’s airplanes, which really focused the regional carrier’s efforts to attempt to stave off bankruptcy. CUTTING Closer to home, Air Jamaica is having a hard time of it, reporting losses of US$90 million. It has taken the decision to cut 52 flights, conserve on fuel, cut wages and reduce its operations. Only last week it anno
