Caribbean Airlines (CAL) chairman George Nicholas recently stated “CAL is a profitable organisation” and believes the company will report a profit of USD31 million (TTD200 million) this year, "even with reduced fares and increased flights" (Stabroek News, 16-Nov-2011). Mr Nicholas also said Air Jamaica, after the merger, also made its first ever consecutive profit in its 50-year history.
Caribbean Airlines makes USD31m in profit: CEO
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The latest investment in the Monarch Group by its majority shareholder Greybull Capital avoided the loss of its ATOL licences and the possible suspension of operations. Moreover, it has given Monarch the opportunity to bridge the gap between now and the planned delivery of the first of its new 30 Boeing 737MAX aircraft in 2018.
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Although Monarch quickly quashed rumours of its financial difficulties in late Sep-2016 and then secured new funds, its commentary indicated that its profit for the year to Oct-2016 would be lower than in the previous year. It has an uneven track record of profitability and has often flown with close to empty cash reserves. Those reserves have been partially replenished, but only sustainable improvements in profitability will avoid the need for further cash calls in the future.
Inselair: opportunities for the airline's niche are ripe if the airline commits to an expanded fleet
Growth at the Caribbean airline group InselAir appears to have levelled after the company more than doubled its fleet between mid-2014 and the end of 2015. Its fleet composition has remained steady at 19 aircraft throughout 2016, and its seat deployment for the year has fallen below levels the company recorded in 2015.
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