Tag: Philip Rankin
CAL climbs out of fiscal hole
(CNS Business): The chair of Cayman Airways Ltd told the Public Accounts Committee Thursday that he expects the airline to have cleared its bank loan debts within three years because a number of factors have combined to help it climb out of the “hole it was in” a few years ago. Talking about the turnaround in fortunes of the airline, Philip Rankin said they were “seeing the fruits of our labour now”, as he pointed to the falling debt, as well as cuts in expenses and operating losses. Rankin said the debt was now around US$19 million and bank loans would be cleared in less than three years.
CAL to begin phased replacement of fleet
(CNS Business): Government has confirmed its approval of plans by Cayman Airways Limited (CAL) to begin phasing in a brand new fleet of modern aircraft to meet the expected growth in tourism. The national flag carrier is about to begin the tendering process to lease four new 737-8Max aircraft to replace its aging fleet. Despite […]
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