Effective immediately, the management of Caribbean Airlines has been transferred from Trinidad and Tobago’s Finance Ministry to its Transportation Ministry. This decision was announced by government officials earlier this week.

Caribbean Airlines, which serves as the flag carrier of both Trinidad and Tobago and Jamaica, is currently facing financial difficulties exacerbated by the recent increase in global jet fuel prices. Despite rumors of potential collapse, the airline has denied these claims.

Moving forward, Transportation Minister Eli Zakour will be responsible for overseeing Caribbean Airlines. In a statement, Zakour stated that his main priorities will be improving efficiency and addressing the carrier’s financial challenges.

The Trinidad and Tobago Guardian reports that Caribbean Airlines has not produced a properly audited financial statement in recent years, despite spending millions of dollars on external financial reviews. The airline has also incurred significant losses from its previous ownership of Air Jamaica, which ceased operations in 2015.

Caribbean Airlines, commonly referred to as CAL, offers flights to various destinations within the Caribbean and serves as a key link between the region and the United States. Popular routes include regular flights to and from Miami, Fort Lauderdale, and Orlando in Florida, as well as New York-JFK.

The airline is jointly owned by the governments of Trinidad and Tobago and Jamaica, with Trinidad and Tobago holding the majority stake in the company.