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CAL struggling with lease payment bill, credit card fraud

Caribbean Airlines has been saddled with a US$270,000 monthly bill for breaking its lease on two 767 jets that are now being used by Air Canada. 

A report in the Trinidad Guardian newspaper quoted CAL officials as saying that the airline is still incurring payments on the 767s and this will continue until August this year.

Captain Jagmohan Singh, CAL’s Chief  Executive Officer, has confirmed that US$135,000 is due for each plane, and although they were returned, the airline had to renegotiate with the lessors.     

The 767s were once used on Caribbean Airlines' London route.

Credit Card

CAL is also carrying a burden of US$40,000 in credit card fraud per month.

This occurs on some of the most popular routes, including Port-of-Spain-to-New York, Kingston-to-New York, and out of Caracas, with fraudsters using other people’s information to make bookings on CAL’s website. 

Adrian Agarrat, Caribbean Airlines' Senior Manager for Financial and Revenue Accounting, says systems are being put in place to deal with this, as it is of  serious concern to the industry.



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