PORT OF SPAIN, Trinidad, CMC – Regardless of having a debt of greater than TT200 million {dollars} (One TT greenback=US$0.16 cents) for the interval written off, the state-owned Caribbean Airways (CAL) nonetheless owes the Airport Authority of Trinidad and Tobago (AATT) greater than TT$30 million up to now, a parliamentary committee was advised on Wednesday.
Showing earlier than the Public Accounts Committee, senior AATT officers confirmed that the Cupboard had agreed to put in writing off the TT$205 million in debt that had been incurred throughout the interval 2007 to 2019.
“That was principally for the lease of their hanger house and their head workplace, TT$205 million, and at present our debt is roughly TT$72 million, and of that, TT$72 million, 50 p.c of it’s collectible from Caribbean Airways,” mentioned the AATT monetary controller, Kamila Wallace Shanklin.
“Our debtor days are 72 days, and our relationship with CAL has severely improved over the previous couple of months when it comes to debt compensation, and we count on that our TT$72 million in debt could be collected.”
The AATT official acknowledged that CAL is its largest debtor, with 50 p.c of the excellent TT$72 million owed to the Authority.
“They’re a bit of over the TT$35 million in debt to us, and Caribbean Airways debt is roughly 60 days excellent. Their fee phrases and relations with us have improved drastically for the reason that write-off.
“That write-off TT$205 million represents rents due for his or her head workplace and hanger house that they rented from us from 2007 to 2019,” she reiterated.
Wallace Shanklin mentioned the brand new CAL debt is “solely 60 days excellent,” agreeing with the Committee that the 2 our bodies have a “rolling scenario.”
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