Caribbean Airlines records 21% increase in revenue

by: - May 11, 2018
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PORT OF SPAIN, Trinidad (CMC) — Regional carrier, Caribbean Airlines (CAL), is reporting a 21 per cent increase in revenue over the last year.

In a statement on Thursday, the Airline says this follows a seven per cent increase in the demand on passenger revenue.

“With a revenue boost from strong passenger demand and increased cargo business together with enhanced cost management, Caribbean Airlines got off to a great start in 2018.

“Today, Caribbean Airlines has reported its first quarter unaudited results for 2018 and revenues and earnings are both ahead of budget and a considerable improvement on the same period in 2017,” the statement noted.

The overall numbers show an increase of 21 per cent in revenue and 64 per cent in earnings year on year.

“It’s been an excellent start to the year. In what has traditionally been our toughest quarter, we’ve seen increases in revenue on some of our top routes and made great strides on the development and implementation of our strategic plan.

“This includes the technology improvement plan, which is focused on providing an award-winning and more enriching customer experience.For instance, in this quarter we initiated Webchat and WhatsApp for business to enable a personalised digital option for our customers to chat with a call center agent,” said Chief Executive Officer, Garvin Medera.

The airline says other areas of growth included Cargo – with 21 per cent increase in revenue and passenger revenue that drew by 22 per cent.

According to CAL, the On Time Performance (OTP) also averaged 85 per cent within 15 minutes on the air bridge for this period.

“This quarter’s results have taken us a step further in achieving our goal of profitability for the airline by the end of 2019. I’d like to express my appreciation to the staff at CAL. The numbers are the results of their dedication and hard work over the past few quarters to keeping us on track with our people- centered and customer focused strategy,” Medera said.