Finance Minister Colm Imbert

Finance Minister Colm Imbert

ACTING Prime Minister Colm Imbert skirted a question on whether Caribbean Airlines was considering cancelling the lease arrangement with Boeing for 12 737 Max aircraft.

The supplementary question was posed by Wade Mark in the Senate yesterday. “CAL has made arrangements to extend the leases of its current fleet (of Boeing 737 aircraft) as and when required,” Imbert said.

Get caught up with news from the news leader
Subscribe now and get access to the Trinidad Express E-paper
SUBSCRIBE/ LOG IN

Imbert said in December 2018 CAL executed lease agreements with two lessors for operating leases with 12 737 Max aircraft to replace the current fleet of 737 jets. He said subsequent to the two crashes involving Max aircraft, CAL had been in constant contact with the lessors and Boeing in order to be fully apprised of the developments and findings as regulatory investigations take place.

“In terms of the status of the agreement to lease the Max 8 aircraft, this lease agreement is subject to the lessor providing all approval documentation and certification of air worthiness from the FAA, which has not yet occurred. If the aircraft are not certified as air worthy then CAL will be under no obligation to accept them or pay for them. In the interim CAL has made arrangements to extend the leases of its current fleet of Boeing 737 aircraft as and when required to ensure a smooth continuity of its flight operations.”

RECOMMENDED FOR YOU

Pay part of the $4.5 billion owed in VAT refunds to business in cash. And the remainder in bonds at a higher interest rate than 1.5 per cent. This was the call made by Independent Senator Deoroop Teemul as he contributed to the budget debate yesterday.

FOR MILLENNIALS when it comes to financial matters things can easily go awry, and nobody wants to be financially unprepared. Asking yourself these questions is crucial to setting the foundation for managing your finances and securing your future.

THE 2020 budget was passed in the House of Representatives yesterday. No division was taken. The debate on the budget moves to the Senate starting at 10 a.m. today. During yesterday’s Standing Finance Committee, it was revealed that this country has not honoured its commitments to a number of international bodies, including a number of UN commitments.

It was a nusaince. That’s how Emeritus Professor Kenneth Julien described the legal battle he’s been engaged in with the State for the past eight years. “Nevertheless, it’s now a relief that it’s now over,” said the 87 year-old Julien.