Caribbean Airlines has started the process of clearing a nine-year backlog of financial audits.
The airline says its audited financial statements for 2020 are targeted for completion by the end of October, following the completion of its audited financial statements for 2017, 2018 and 2019.
At the airline’s ninth Annual General Meeting on Tuesday, CAL added that its audited financial statements for the financial years 2021 to 2025 are on schedule to be completed.
Chairman Reyna Kowlessar said, “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.”
The progress on the outstanding audits forms part of a wider programme to strengthen the airline’s viability and operational performance.
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.
Caribbean Airlines continues to exercise greater financial and operational discipline to manage these external pressures while maintaining essential connectivity.
Key measures include the airline’s route rationalisation programme.
Caribbean Airlines 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.