Caribbean Airlines has reported a summary of its unaudited financial results for the nine months ended September 30, 2018, which show the airline has moved into an operating profit and is net income positive for the year-to-date.
The unaudited accounts for the nine months to September 30, 2018 show Earnings Before Interest and Taxes (EBIT) of positive TT$96 million - this is comprised of TT$118 million on international and other operations and negative TT$22 million on the domestic air bridge.
The airline’s total net income of TT$48 million is comprised of TT$83 million on international and other operations and a loss of TT$35 million on the air bridge.
Year-to-date total revenues showed a 15 percent year-on-year improvement of TT$291 million. Fuel of TT$450.4 million was a major expenditure for the same period, compared to TT$345.5 million in 2017 resulting in a year-on-year increase of TT$104.9 million.
Other highlights for the period January to September 2018:
- Improved cargo and freighter revenue and profit
- Increased passenger numbers and load factors on many key routes
- Launched new products, features and services including: Caribbean View, Caribbean Upgrade, Caribbean Plus, Caribbean Explorer, online Caribbean Miles redemption, Online Webchat, WhatsApp Chat, and Caribbean Café.
- Introduced new services from Port of Spain to Cuba and from St. Vincent to New York
- Developed New Cargo website
- Executed interline ticketing with Hainan Airlines
- Introduced online interline bookings with three regional partners
- Caribbean Airlines has ranked 25th out of 164 global airlines for September 2018, for on-time performance by the OAG (Official Aviation Guide) Star Ranking.
- Voted as winner of “Caribbean’s Leading Airline” for the eighth consecutive year and was also selected as the “Caribbean’s Leading Airline Brand 2018”
- Air-Bridge Performance: Total Flights Operated: 11,372; Total Seats Provided: 805,233 and Total Passengers carried: 716,299
For more information, visit www.onecaribbean.org.