Home' Trinidad and Tobago Guardian : March 16th 2014 Contents A27
• Twitter: @GuardianTT • Web: guardian.co.tt
WASHINGTON---The Federal Deposit Insurance
Corp has sued 16 big banks that set a key global
interest rate, accusing them of fraud and conspiring
to keep the rate low to enrich themselves.
The banks, which include Bank of America,
Citigroup and JP Morgan Chase in the US, are
among the world's largest.
The FDIC says it is seeking to recover losses
suffered from the rate manipulation by ten US
banks that failed during the financial crisis and were
taken over by the agency. The civil lawsuit was filed
in federal court in Manhattan.
The banks rigged the London interbank offered
rate, or LIBOR, from August 2007 to at least mid-
2011, the FDIC alleged.
The LIBOR affects trillions of dollars in contracts
around the world, including mortgages, bonds and
consumer loans. (AP)
US sues 16 big banks that set key rate
British Airways (BA), which last
year celebrated five decades of serv-
ice to T&T and is the longest serv-
ing European carrier to the
Caribbean, has ramped up its first-
class service to customers in this
The flag carrier airline of the Unit-
ed Kingdom, BA completed a $100
million product enhancement invest-
ment in 2012, which included
upgrades to the first-class cabins on
its aircraft to create an "intimate
private jet experience." That means
customers from T&T and other
Caribbean markets can now enjoy
the luxury of seats which convert to
six-foot fully-flat beds; a Club World
menu which combines the finest
local and international ingredients,
with meals served on fine china;
extensive in-flight entertainment,
with personal flat screen; and noise-
cancelling headphones and other
This new luxury experience begins
even before the first-class traveller
boards the aircraft, with stress-free
check-in open from 24 hours before
the flight departs, including print,
fax or e-mail boarding pass options
to save time at the airport, real-time
arrival and departure information
and live travel news.
In addition, check-in kiosks are
now available at Piarco International
"Feedback from customers helped
us define our product and improve
on it," explained Marcia Erskine, PR
consultant for BA. "We re in a good
space right now but we re always
seeking to improve."
Erskine, who is based in Jamaica,
spoke to the Sunday Guardian about
the new services BA is offering in
the region during a recent visit to
The airline currently operates
return flights from Port-of-Spain to
London Gatwick Airport via St Lucia
five times weekly, as well as one
flight per week from Tobago to Lon-
don Gatwick Airport via Antigua.
BA, which has been flying to the
Caribbean since 1946, currently
serves 11 gateways in the Caribbean
to London from Kingston, Nassau,
Grand Cayman, Providenciales,
Antigua, Punta Cana, St Kitts,
Grenada, St Lucia and T&T. Its oper-
ations are centred at its main hub
at London Heathrow Airport, with
a second major hub at London
The airline was formed in 1971
from a merger between two large
London-based airlines, British Over-
seas Airways Corporation (BOAC)
and British European Airways Cor-
poration (BEA) and two smaller
regional airlines, Cambrian Airways
and Northeast Airlines. Their point
person in the local market is Marcelle
Joseph, the district manager for T&T
and St Lucia.
While other carriers provide serv-
ice between T&T and London,
Joseph said BA has been able to hold
its own in a competitive market by
demonstrating, through the quality
of its service, its strong commitment.
She said the airline also benefits
from significant customer loyalty.
Joseph explained that BA not only
connects travellers to London and
destinations in Europe but also "con-
nects the Caribbean to each other"
with its inter-island flights.
"While it is a British carrier, we
try to be responsive to the needs of
all our customers," she said.
Erskine said in the coming weeks
and months, BA s customers in T&T
can look forward to a new promotion
with India as the area of focus. It
will be aimed at creating wider public
awareness of that destination with
the tagline---Getting There.
She explained that the carrier not
only focuses on promoting the UK
but actively supports local attractions
with the aim of boosting the tourism
product here. That includes offering
special hotel packages for Carnival
and other major T&T events.
In addition, BA has worked with
members of the T&T Horticultural
Society, assisting with getting par-
ticipants and freight to the annual
Chelsea Flower Show. Support has
also been provided to a range of local
sporting bodies, religious organisa-
tions and other groups, Erskine said.
She emphasised that the airline
offers a full service experience, from
booking the flight, to hotel accom-
modations, car rentals and even tick-
ets to attractions and restaurants.
Putting her own spin on a popular
saying, Erskine said: "It takes a village
to keep an airline flying and by keep-
ing in touch with our markets, we
ensure that we are able to respond
to changing needs."
An overhead view of
the first-class seats
which convert to six-
foot fully-flat beds.
BA currently serves 11
gateways in the
Caribbean to London.
BA rolls out first-class upgrades
...UK carrier acts on customer feedback
Links Archive March 15th 2014 March 17th 2014 Navigation Previous Page Next Page