Bahamasair Incurred Net Loss of $11.M in Second Half of 2012

Above: a Bahamasair Flight

By the Caribbean Journal staff

Air carrier Bahamasair incurred a net loss of $11.7 million in the second half of 2012, Bahamian Deputy Prime Minister Philip Davis said this week.

Bahamasair collected $37.4 million in revenue in the period, while expenses totaled $49.1 million.

That loss represented an increase from a $9.8 million loss in the same period in 2011.

“The increase in net loss has been attributed mainly to challenges associated with an aged fleet of aircraft along with increases in airport and fuel charges,” Davis said.

The Deputy PM said that a recent safety audit by the International Air Transport Association “did not reveal any major negative findings.”