Caribbean Airways plans to chop round 1 / 4 of its employees, or 450 workers, as a part of a restructuring of the service.
The airline, headquartered in Trinidad & Tobago capital Port of Spain, additionally stated it will put plenty of plane into storage.
Caribbean Airways stated the restructuring technique comes within the wake of the devastating Covid-19 disaster.
“We might want to regulate operations to cater for a lowered scale of demand after the opening of the borders,” defined an announcement.
”Put merely, passenger demand within the short- to medium-term isn’t going to get well sufficiently to help the prevailing firm construction,” the airline added.
“As a consequence, Caribbean Airways is required to take additional steps to make sure it has a sustainable enterprise mannequin for 2021 and past.
“These steps embrace main value reductions in all areas of the operations, particularly its human useful resource complement, its fleet and different property, and its route community.”
Based on Cirium fleets knowledge, the airline presently has six ATR 72-600 turboprops in operation, in addition to seven Boeing 737-800 plane.
It has 5 Boeing 737 Max planes on order.
The service didn’t say what number of plane it can take out of its working fleet as a part of the brand new technique.
The information comes on the identical day that Caribbean reported first quarter 2021 outcomes.
The service posted a TT$172.7 million ($26 million) loss for the interval, and a 75 per cent decline in income, in comparison with the identical three months in 2020.