1. One Caribbean Airlines

Regional carrier Caribbean Airlines (CAL) is again on the hunt for a new CEO, this time seeking a guru of cultural change. Chairman Philip Marshall said Wednesday that the loss-making carrier is poised for better performance in 2016 and that the new head is expected to enhance this through 'leading the organisation in a brand upgrade and related cultural changes'. Tyrone Tang, CAL’s chief financial officer currently oversees the company – headquartered in Trinidad and Tobago and employing more than 1600 people — as acting chief executive officer. CAL operates more than 600 weekly flights to 19 destinations in the Caribbean, North and South America and the United Kingdom. It is estimated to serve 900,000 passengers annually. Intel 3945abg wlan driver windows xp. CAL’s board is seeking a leader who will galvanise staff to continue a revenue improvement programme underway. Marshall said the new CEO will be expected to have the 'aptitude to lead and strategically manage the reduction of unit costs and the vision to anticipate and respond to the customer lifestyle preferences, driving change in the airline industry, and deploying these critical factors to optimise these market opportunities'.

But keeping a CEO may be a challenging task in itself. On October 28 the airline announced the resignation of CEO, Michael DiLollo after less than 19 months in the job, noting that he had left for personal reasons. DiLollo served for one year and six months, from May 2014 – October 2015, after himself replacing Robert Corbie, former vice-president of commercial and customer experience, who resigned in June 2013, almost one month after the entire CAL board, then chaired by Rabindra Moonan, was sacked by Finance Minister Larry Howai.

One Caribbean Airlines

Corbie replaced CEO Captain Ian Brunton who served one year and three months. The rotating CEO is just one sign of the airline’s turmoil following its transfer to the Trinidadian government under an airline-divestment exercise by Jamaica in 2010. TT merged the loss-making BWIA with cash-strapped Air Jamaica. While Jamaica retained 16 per cent of the company under the terms of the agreement, the government of Trinidad and Tobago was slated to invest US$50 million in CAL to improve the regional service.

CAL, however, almost doubled losses from US$43.6 million in 2011 to US$83.7 million in 2012. At financial year end December 2013 it further posted losses estimated at US$70 million.

In February 2015, TT’s Finance Minister Larry Howai said unaudited accounts showed a loss of US$60 million, noting that accounts for fiscal year ending December 31, 2014 were still being compiled. Howai said the airline had developed a plan which envisaged breaking even by 2017. The airline has used up its cash in the purchase of planes and has also suffered from a loss-making London route which is due for the knife in first quarter 2016. Marshall said that two chief challenges to viability were 'increased competition and lower than industry standard aircraft utilisation'.

Declining to give an update on company performance, Marshall nevertheless noted, 'There was no improvement over 2013 because of increased competition by low-cost airlines in both the Jamaica and Trinidad markets,' referring to the trend in losses. He is, however, optimistic about a medium-term turnaround. He indicates that any new CEO will find an airline in a better position than it was two years ago, arising from revenue improvement exercises. 'We anticipate a very significant improvement in the financial performance of the airline. Our revenues have increased significantly and this is due to more effective revenue management and improved load factors.'

However, 'like other airlines flying both international and regional services,' he noted, challenges to the operation continue to be the 'common industry drivers' of fuel costs, passenger load factors and aircraft utilisation. CAL he added, has started a programme of product improvement and '2016 will be a significant transformation year,' adding: 'The transformation has already begun, with the upgrade of our reservation and ticketing system to Amadeus, phase one of which was completed on Wednesday, December 9. 'The second phase which involves our airport check-in system will be completed by March 2016. With this upgrade, Caribbean Airlines will be able to significantly enhance the travel experience for our valued customers.'

The chairman said CAL has also upgraded the Passenger Revenue Accounting (PRA) system, which will 'give Caribbean Airlines the ability to better manage the control, reporting, use and accounting of tickets, miscellaneous charge orders, refunds, ancillary revenue and other related financial documents,' he outlined. The company has also engaged in a green field scheduling review with the primary objective of improving aircraft utilisation.

'The first result of this review has been servicing the same routes and frequencies with less aircraft, thus improving our aircraft utilisation. A second review is currently underway,' the company chairman noted.

CAL, he said, has successfully faced the challenge of the removal of fuel subsidies which occurred in October 2014. 'The airline’s performance for 2015 will be significantly better than 2014,' he asserted. HOUSE RULES 1. We welcome reader comments on the top stories of the day.

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