Home' Trinidad and Tobago Guardian : May 21st 2014 Contents A19
• Twitter: @GuardianTT • Web: guardian.co.tt
Dr Roger Hosein, senior
lecturer at the University of
the West Indies (UWI), St
warned that the T&T econ-
omy is in trouble.
“There is the growth of
shale gas in the US and while
they used to buy our gas
now they will be our com-
petitor. It cannot be busi-
ness as usual in the country.
We need to re-calibrate the
economy. There is economic
activity but it is only in a few
concentrated areas,” he said.
Hosein made the com-
ments at the launch of two
of his books at the Office of
the Principal, UWI, St Au-
gustine. One is the Applica-
tions of International Trade
Theory: A Caribbean Per-
spective and the other is In-
Importers in Caricom which
he co-authored with Martin
Franklin, head of the De-
partment of Economics at
Hosein said Government
spends too much on subsi-
dies which does nothing
productive for the economy.
Michael DiLollo, a 47-year-old Canadian,
is the new CEO of Caribbean Airlines Lim-
ited (CAL). The appointment, officially
announced yesterday, comes several months
after the sudden resignation of acting CEO
Robert Corbie in September 2013.
DiLollo, who was introduced at a news
conference at the Hilton Trinidad and Con-
ference Centre in Port-of-Spain, took up
duties at the state-owned carrier on Monday.
In response to questions from reporters,
he said a route analysis is being undertaken,
so it would be premature to comment on
the profitability of the airline’s London route.
“Caribbean Airlines has already started a
route analysis process to identify what is
working, what isn’t working, where are the
opportunities and most of all, how can we
leverage the gauge of aircraft that we have,”
he said, adding that there is need to “validate,
assess, analyse and ultimately come up with
DiLollo has already met with CAL’s board
and middle management and is due to meet
with other employees later this week.
The new CEO is taking up his appointment
at a time when the airline is facing compe-
tition from JetBlue which entered the market
offering lower fares on the New York and
Fort Lauderdale routes.
He hinted that CAL’s revenue may have
dropped since the US carrier entered the
market in late February.
“As you would expect whenever there is
additional capacity that is put into a market
by a very well capitalised company that has
the assets and structure, typically they use
pricing tactics and that ultimately drives
revenue to the lower side. Whenever capacity
is added it drives revenue down,” DiLollo
“Not only are they well-capitalised, they
are also extremely well-structured and effi-
cient and their operating costs are nothing
to sneeze at. It’s very competitive,” he said.
DiLollo said apart from the threats CAL
faces externally, the airline also faces internal
threats such as costs which “could perhaps
“There are much bigger cost drivers inside
an airline that are more related to how things
are managed and how efficiently they are
done that could render us more competitive
in a very short period of time,” he said.
CAL chairman Philip Marshall said DiLollo
was chosen after an “extensive search” and
was “the outstanding choice in terms of his
combination of leadership, governance, tech-
nical, and communication skills.”
Commenting briefly on the financial state
of the airline, Marshall said the 2010 and
2011 audits have been completed and have
been submitted to the Ministry of Finance.
He said the overall finances of the airline
had substantially improved over 2012.
DiLollo served as president of Transat
Tours Canada, the business unit of Transat
AT, Inc, from November 2009 to September
He had been with Transat since 1991 and
served as an executive vice president of TTC,
Transat A T Inc, at Air Transat AT Inc from
Prior to that, he was senior vice president
of Technical Operations and Customer Serv-
ice for Air Transat.
He is an Airbus A330 captain and has con-
siderable and diverse experience in the avi-
He served as vice president of Airline
Operations at Medatlantica Group was a
director of Nav Canada from April 24, 2013.
DiLollo is a graduate of Queen’s University
in Business Administration.
UWI economist: Time to re-calibrate T&T economy
Aviation veteran is new CAL CEO
CAL chairman Phillip Marshal, left, shakes hands with the airline’s new CEO Michael DiLollo
after announcing his appointment at a media conference at Hilton Trinidad and Conference
Centre in Port-of-Spain, yesterday. PHOTO: SEAN NERO
Links Archive May 20th 2014 May 22nd 2014 Navigation Previous Page Next Page