Sep 2005 Financial News

'BWIA critical to economy'

Sep 13, 2005

Three key hotel and travel industry associations said yesterday that BWIA is of "critical importance" to Trinidad and Tobago and the wider Caribbean.

Noting that BWIA has the potential to play a major role in Trinidad and Tobago's economic development, the Trinidad Hotels, Restaurants and Tourism Association, the Trinidad and Tobago Incoming Tour Operators Association and the Travel Agents Association of Trinidad and Tobago expressed full support for the airline to continue functioning.

The Government is expected to announce its decision shortly regarding the future of the financially-ailing national airline.

"The closure of BWIA could result in an automatic loss of slots in Heathrow Airport, London, which is 'pure golf' in the airline industry. It might also result in a loss of certain route rights as well as a loss of market share in relation to major events-such as international conferences, sporting and other events," the associations said in a news release.

"We recognise that BWIA in its present system of operations needs to be totally revamped and serious questions have to be asked and appropriate decisions taken with regard to financing, management, operating philosophy and structure of the airline," they said.

"If BWIA is successfully managed and operated, it could provide a massive boost to Trinidad and Tobago's tourism aspirations and its potential for new hotel construction, short-term and permanent job creation and the development of conference business that would be a natural and very lucrative adjunct of the ACS and FTAA headquarters in Port of Spain," they added.

The Trinidad Express
Tuesday, 13th September, 2005
http://www.trinidadexpress.com/index.pl/article_business?id=101584217