Government to disclose financial position of Caribbean Airlines

PORT OF SPAIN, Trinidad, CMC – Finance Minister Larry Howai is expected to detail the financial position of the state-owned Caribbean Airlines (CAL) on Tuesday amid media reports that the airline has had to write off millions of dollars in losses owing to mismanagement and credit card fraud. Howai is due to inform the Senate on the airline’s finances over the period January to December 2012. The Trinidad Express newspaper, which has been running a series of articles on the finances of the airline Tuesday reported that the six-year-old state company has found itself managing a billion-dollar debt and having to write off millions in losses owing to mismanagement of the company’s cargo revenues and credit card fraud.