State-owned Caribbean Airlines is again going through a major downsizing as it continues to struggle amid the Covid travel downturn. It plans to cut about 450 jobs, which represents about 25% of the workforce.
It will also reduce its fleet size and the number of routes it serves. In the first quarter of 2021, revenue decline 75%, leading to a loss of TT$172.7 million (US$25.7 million).
It posted an annual operating loss of TT$738 million (US$109.2 million) for 2020.
