Colm: CAL got subsidy of $3B

Imbert said the Government gives a subsidy of $50 per adult seat for CAL’s Tobago airbridge. He listed the subsidies to CAL in recent years under both the former People’s Partnership government and the present Government, later on saying the subsidies also applied to other routes operated by CAL.

For 2011, CAL got $243 million (made up of $136 million in subsidies and $106 million in transfers).

For 2012, CAL benefitted from $1.139 billion, made up of $412 million in loan guarantees and $726 million in subsidies. For 2013, CAL got $860 million, comprised of $413 million in loan guarantees and $477 million in subsidies. For 2014, CAL received $1 billion, consisting of $140 million in subsidies and $859 million in transfers.

For 2015, CAL was given $655 million. In 2016, CAL received $453 million awarded by the former PP government, plus $28 million given by the present Government, that he described as “a reduction of several billion dollars”.

Imbert said CAL received $3 billion in total since 2011, and added of the PP regime, “And they burnt $1 billion in cash.” He listed steps now underway to make CAL self-sufficient namely implementing cost-relevant strategies, revenue enhancement (aimed at a break-even position), developing a strong brand for CAL and building the necessary coprorate culture (destroyed under the last government), and updating a network plan for more utilisation of aircraft.)