Caribbean Airlines (CAL) has reported losses estimated at US$70 million last year, which does not include the US$40 million in fuel subsidy to the airline. Finance Minister Larry Howai insists that the airline remains solvent: “Government has made certain provisions for the airline to restructure its balance sheet. One of the things they have done is to use a lot of their cash to actually do acquisitions of the planes and I have instructed a new restructuring of the balance sheet where you would need to borrow and replace the cash which was being used. “It’s better to leverage
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