Government subsidy for Caribbean Airlines slashed

The Government of Trinidad & Tobago has slashed the subsidy to the State carrier, Caribbean Airlines, by more than half.

The subsidy will move from $200 million this year to $92 million in 2016.

This was revealed in the Estimates of Recurrent Expenditure for the 2016 Financial Year. The document was tabled in the House of  Representatives on Monday.

The Government is seeking to curtail expenditure, in light of  falling revenues.