PORT OF SPAIN, Trinidad – The state-owned Caribbean Airlines (CAL) Tuesday said it has completed its audited financial statements for a three-year period beginning in 2017 “marking a significant step in strengthening transparency, financial accountability and governance across the organisation.
“Bringing the airline’s audited financial statements up to date, following an inherited nine-year backlog, “is an essential part of our focus on rebuilding, growing and positioning Caribbean Airlines for lasting success,” said CAL chairman, Reyna Kowlessar, told the airline’s ninth annual general meeting.
“We thank our employees for the work completed to date and for their continued dedication as we rebuild the airline. Our focus remains on creating a stronger organisation that can grow responsibly, deliver reliable service and achieve long-term operational and financial success,” Kowlessar added.
The airline said it is also progressing the completion of its remaining outstanding audits. The audited financial statements for 2020 are targeted for completion by the end of October 2026, while those for the financial years 2021 to 2025 are on schedule to be completed.
CAL said that the audit presented “represents a major milestone in the board’s oversight and commitment to the airline’s long-term sustainability” and that it also reinforces the airline’s transparency and accountability to its shareholders, stakeholders and the public.
“The progress on the outstanding audits forms part of a wider programme to strengthen the airline’s viability and operational performance and this work is taking place within a challenging global aviation environment, where increases in fuel prices continue to exert significant pressure on airline operating costs.”
The airline said that as fuel represents one of the industry’s largest expenses, Caribbean Airlines continues to exercise greater financial and operational discipline to manage these external pressures while maintaining essential connectivity.
It said key measures include the route rationalisation programme introduced in 2025, through which the airline continues to assess its network to ensure that route operations are aligned with market demand and commercial realities.
Caribbean Airlines said it is also advancing its fleet optimisation strategy, including the sale of two ATR aircraft. One of these aircraft has already been delivered to its new owner.
“These initiatives are being supported by critical policy reforms, strengthened financial compliance and oversight. Together, these initiatives will improve organisational discipline and ensure that the airline’s resources are deployed responsibly,” the airline added.
