REG CAL says no increase in fares as fuel subsidy to be halted
The Trinidad-based Caribbean Airlines says it will not be increasing ticket prices in response to the Kamla Persad Bissessar administration's announcement this week that it was ending its subsidy to the state-owned carrier.
Finance Minister Larry Howai said the subsidy, which was estimated at 40 million US dollars last year, would come to an end October 1.
Howai told legislators that CAL must move towards the adoption of a financially-sound business model for positioning the airline in targeted segments of the global tourism market.
FOR MORE STORIES WATCH: