CAL’s US$21M subsidy keeps airline flying

| 08/09/2016 | 0 Comments

(CNS Business): The latest audit of the national flag carrier has reinforced the fact that while Cayman Airways Ltd is turning its financial losses around, it is still very heavily dependent on a government subsidy of around US$21 million per year and would not be a viable entity without it. But the management team has pointed to the strategic importance of the public cash injected into the airline to ensure that Cayman retains control of its broader airlift to support tourism policy and connect all three islands. CEO Fabian Whorms told the Public Accounts Committee last week that the airline provides value for money.

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Category: Government Finance, Government oversight, Politics

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