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  • 6 weeks ago
After nearly a decade of financial opacity, Caribbean Airlines may finally be turning a corner. A leaked internal email reveals that the airline has presented its long-overdue 2016 audited financial statements signaling a possible shift under new management.
Transcript
00:00After failing to submit annual audited financial statements for the past nine years,
00:06Caribbean Airlines now appears to be charting a new course under fresh leadership.
00:11A leaked internal email from the airline's senior manager of cost and management accounting,
00:17Neera Romai Williams, reveals a notable development.
00:21The message sent to employees states,
00:23On Friday, October 3rd, the airline held its annual general meeting where our 2016 audited financials were presented by then auditors, KPMG,
00:35to representatives of Corporation Soul, the Ministry of Finance, the Government of Jamaica, Management and a Board of Directors.
00:44This marks a significant step forward for the airline and by extension the finance division.
00:49While Cal has publicly reported financial results for some periods,
00:55including a U.S. $48 million unaudited operating loss in the first half of 2021
01:03and reported profits in 2023 and 2024,
01:08these figures have not been externally audited or formally submitted
01:13to Trinidad and Tobago's Ministry of Finance as required.
01:17The prolonged absence of audited financials has drawn criticism from Prime Minister Kamala Pesant-Besasa,
01:23who has given the airline's management a two-year deadline to bring its financial reporting up to date.
01:31In her email, Romai Williams referred to several upcoming milestones
01:35and confirmed that PricewaterhouseCoopers is currently working on the 2017 audit.
01:42She added that the management team is optimistic about receiving a draft report by the end of October 2025.
01:50She also noted that Cal's finance team is working closely with PwC to ensure the timeline stays on track.
01:58Meanwhile, sources at the Ministry of Finance confirmed that while some reports have been received from Cal,
02:04none have been externally audited to date.
02:08Arvashi Tawari, Rupanarayan, TV6 News.
02:12I have made for Life of Finance and After
02:28Querida, Rupanarayan, TV6 News.
02:29Our!?
02:32Irvis Dinamor hot topic at Palermo Muzziarno on Ababa M discussions
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