Cayman Airways keeps 737 Max 8 lease costs under wraps

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Cayman Airways keeps 737 Max 8 lease costs under wraps

Unread post by bimjim » Wed Nov 28, 2018

https://cayman27.ky/2018/11/cayman-airw ... der-wraps/

Cayman Airways keeps 737 Max 8 lease costs under wraps
Reshma Ragoonath
November 26, 2018

The leasing costs for Cayman Airways new 737 Max 8 planes continue to be a tightly guarded secret, even from the scrutiny of the Legislative Assembly’s Finance Committee.

The issue was raised last Thursday (22 November) as legislators wrapped up a marathon session where 17 bills were passed.
Cayman Airways is set to receive the first of its four new planes in the coming days, as for the price tag- no word.

Pressed on the issue, Tourism Minister Hon. Moses Kirkconnell declined to say anything, pointing out there could be commercial implications.

“To bear everything that you’re doing, your cost structure, your lease payment and telling your competition exactly what it costs you to compete against them,” Mr. Kirkconnell said.

However, Opposition Leader Hon. Ezzard Miller countered, “That’s called management and efficiency. Not refusing to tell us where the public funds are going,” Mr. Miller said.

Mr. Miller projected that the new planes could drive the airline’s annual costs up by $10 million per year.

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