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       T R O U B L E D   C O M P A N Y   R E P O R T E R

                 L A T I N   A M E R I C A

          Friday, December 3, 2021, Vol. 22, No. 236

                           Headlines



B A H A M A S

BAHAMAS: Records 40% Decline in Goods Exports for 2020
BAHAMAS: Reports Successful Meetings With Creditors


D O M I N I C A N   R E P U B L I C

EMPRESA GENERADORA: S&P Withdraws 'BB-' LT Issuer Credit Rating
[*] DOMINICAN REPUBLIC: Port Authority Rebuilds Docks in NW


J A M A I C A

JAMAICA: Shaw Calls for Sugar Technologists to Help Boost Industry


M E X I C O

GRUPO AEROMEXICO: Apollo Deal "Unfair," Junior Creditors Say
GRUPO AEROMEXICO: Updates Plan to Include Customer Claims Details
MEXICO: Bank Ups 2021 Inflation View, Lowers Growth Forecast


T R I N I D A D   A N D   T O B A G O

CARIBBEAN AIRLINES: Chief Operating Officer Resigns

                           - - - - -


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B A H A M A S
=============

BAHAMAS: Records 40% Decline in Goods Exports for 2020
------------------------------------------------------
RJR News reports that Bahamian goods exports declined by 40 per
cent in 2020 amid the COVID-19 pandemic, with those entering the US
under trade preference regimes hitting a ten-year low.

The US International Trade Commission's recently-released 2021
report on the Caribbean Basin Economic Recovery Act, revealed the
extent to which total exports to the country's northern neighbor
have progressively declined over the last decade, according to RJR
News.

The Caribbean Basin Economic Recovery Act is the initiative by
which millions of dollars in Bahamian goods enter that country
duty-free, the report notes.

The report found some 69 per cent, or $269 million, of The Bahamas'
$390 million in total worldwide exports were dispatched to the US
during 2020, with the latter figure representing a $264 million
year-over-year decline compared to 2019, RJR News discloses.  

As reported in the Troubled Company Reporter-Latin America on Nov.
16, 2021, S&P Global Ratings lowered its long-term foreign and
local currency sovereign credit ratings on the Commonwealth of The
Bahamas to 'B+' from 'BB-'. At the same time, S&P Global Ratings
revised its transfer and convertibility assessment to 'BB-' from
'BB'. The outlook is stable.



BAHAMAS: Reports Successful Meetings With Creditors
---------------------------------------------------
RJR News reports that the Bahamas government is reporting that it
has been having successful meetings with its creditors, that
include transparent conversations about the status of the country's
economy.

Press Secretary Clint Watson said the government will show
creditors that the country will satisfy its financial obligations,
according to RJR News.

As reported in the Troubled Company Reporter-Latin America on Nov.
16, 2021, S&P Global Ratings lowered its long-term foreign and
local currency sovereign credit ratings on the Commonwealth of The
Bahamas to 'B+' from 'BB-'. At the same time, S&P Global Ratings
revised its transfer and convertibility assessment to 'BB-' from
'BB'. The outlook is stable.




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D O M I N I C A N   R E P U B L I C
===================================

EMPRESA GENERADORA: S&P Withdraws 'BB-' LT Issuer Credit Rating
---------------------------------------------------------------
S&P Global Ratings withdrew its 'BB-' long-term issuer credit
ratings on Dominican Republic-based power producer Empresa
Generadora de Electricidad Itabo S.A. at the issuer's request. The
outlook was negative at the time of withdrawal. S&P also withdrew
its 'BB-' issue-level ratings on Itabo's senior unsecured notes.

S&P said, "Our ratings on Itabo at the time of the withdrawal
reflected the risks related to operating in the sector, given the
high dependence of the electricity sector in the Dominican Republic
on government subsidies, which could expose the company to weak
collection rates and payment delays from the distributors. Our
ratings also incorporated Itabo's thermal plants dispatch order in
the Dominican Republic. These plants are in the first quartile in
production costs--behind only renewable sources--and so are among
the first to be dispatched. Given Itabo's solid operational cash
generation and limited investment needs, we expected debt to EBITDA
to remain below 1.5x and funds from operations to debt above 45%,
even assuming delays in both collecting receivables from
distribution companies and receiving subsidies.

"At the time of the withdrawal, the negative outlook indicated a
one-in-three chance of a downgrade in the next 12 to 24 months and
reflected the outlook on the Dominican Republic (BB-/Negative/B)
because we limited the ratings on Itabo by those on the
sovereign."




[*] DOMINICAN REPUBLIC: Port Authority Rebuilds Docks in NW
-----------------------------------------------------------
Dominican Today reports that the Ministry of Public Works began the
reconstruction on the collapsed Sabana de la Mar dock in Hato Mayor
(northeast), Dominican Port Authority (Apordom) director Jean Luis
Rodriguez announced.

"This process that began in July will have two parts, first, Public
Works for the construction of the new pier and second, the
intervention that the Port Authority will make to guarantee the
proper use and operation of the work," Rodriguez said in a
statement, according to Dominican Today.

"From early . . . , the concession company of the work, began the
unloading of construction materials for the work and the first
steps for the intervention of the dock," the report notes.

                   About Dominican Republic

The Dominican Republic is a Caribbean nation that shares the island
of Hispaniola with Haiti to the west. Capital city Santo Domingo
has Spanish landmarks like the Gothic Catedral Primada de America
dating back 5 centuries in its Zona Colonial district. Luis Rodolfo
Abinader Corona is the current president of the nation.

The Troubled Company Reporter-Latin America reported in April 2019
that the Dominican Today related that Juan Del Rosario of the UASD
Economic Faculty cited a current economic slowdown for the
Dominican Republic and cautioned that if the trend continues,
growth would reach only 4% by 2023. Mr. Del Rosario said that if
that happens, "we'll face difficulties in meeting international
commitments."

An ongoing concern in the Dominican Republic is the inability of
participants in the electricity sector to establish financial
viability for the system.

Fitch Ratings on Jan. 18, 2021, assigned a 'BB-' rating to
Dominican Republic's USD1.5 billion 5.3% notes due Jan. 21, 2041.
Concurrently, the Dominican Republic reopened its 2030 4.5% notes
for an additional USD1.0 billion, which Fitch rates 'BB-', raising
the total outstanding amount of the 2030 notes to USD2.0 billion.

Standard & Poor's, on December 4, 2020, affirmed its 'BB-'
long-term foreign and local currency sovereign credit ratings on
the Dominican Republic. The outlook remains negative. S&P also
affirmed its 'B' short-term sovereign credit ratings. The negative
outlook reflects S&P's view that it could lower the ratings on the
Dominican Republic over the next six to 18 months, given the
severe impact of the COVID-19 pandemic on the sovereign's already
vulnerable fiscal and external profiles, as well as the potential
for a weaker-than-expected economic recovery.

Moody's credit rating for Dominican Republic was last set at Ba3
with stable outlook (July 2017). Fitch's credit rating for
Dominican Republic was last reported at BB- with negative outlook
(May 8, 2020).




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J A M A I C A
=============

JAMAICA: Shaw Calls for Sugar Technologists to Help Boost Industry
------------------------------------------------------------------
RJR News reports that Minister of Agriculture and Fisheries Audley
Shaw has called for sugar technologists to use their expertise to
help drive growth of the sugar cane industry.

Mr. Shaw said research and the application of science and
technology was critical to achieving increased production and
productivity in the industry, according to RJR News.

Addressing sugar technologists at a function recently, Mr. Shaw
urged them to use their expertise to identify the right
formulations that will lead to the best yields and the varieties
most suited for cultivation, the report notes.

Over the last three years, sugar cane production has been on the
decline with some 499,043 tons in the 2021 season compared to
736,515 tons in 2019, the report discloses.

Sugar sales have also decreased with some 31,053 tons sold in 2021
as against 42,612 tons in 2020, the report adds.

As reported in the Troubled Company Reporter-Latin America on Nov.
25, 2021, Moody's Investors Service has affirmed the Government of
Jamaica's long-term issuer and senior unsecured ratings at B2. The
senior unsecured shelf rating has also been affirmed at (P)B2. The
outlook on the ratings remains stable.





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M E X I C O
===========

GRUPO AEROMEXICO: Apollo Deal "Unfair," Junior Creditors Say
------------------------------------------------------------
Eliza Ronalds-Hannon and Steven Church of Bloomberg News report
that lower-ranking creditors in Grupo Aeromexico SAB's bankruptcy
are protesting a plan led by Apollo Global Management Inc. and
Delta Air Lines Inc. they say distributes value unfairly and could
lead to "protracted litigation."

The plan, which calls for Aeromexico's biggest lender, Apollo, and
corporate partner Delta to get ownership stakes in the airline, is
"marred by conflicts of interest and opacity," unsecured creditors
Invictus Global Management and Corvid Peak Capital Management wrote
in a letter that also detailed their alternate proposal.

The current plan gives a recovery of as much as 85% for unsecured
creditors.

"The Court should not approve the Exit Financing Motion in the face
of the alternative proposal developed by the Ad Hoc Group (the "Ad
Hoc Group Proposal"), which provides a consensual path towards
exiting chapter 11 while at the same time distributing value fairly
across the capital structure, including to fulcrum general
unsecured claims holders ("GUC Holders") and increasing plan value
by $450 million (i.e., by properly accounting for the full amount
of estate assets in the form of excess cash)," the Ad Hoc Opco
Group said in a court filing.

"As constructive capital solution providers, the Ad Hoc Group
proposed the Ad Hoc Group Proposal and used their own balance
sheets to guarantee the Debtors a consensual path forward that does
not impermissibly strip value from the fulcrum GUC Holders.  The
Debtors' proposed exit financing (the "Existing Proposal") is not
the Debtors' only or highest and best path forward.  The Ad Hoc
Group Proposal improves or leaves unaltered the negotiated economic
rights of certain key parties (Delta, Apollo, and significant
Mexican shareholders) and provides markedly improved recoveries for
the fulcrum class of GUC Holders -- i.e., increasing the recovery
range from 14-14.5% to up to 29-31%. Notably, the Ad Hoc Group
Proposal also treats bondholders and "double dip" claimants fairly
by paying them in full, in cash, and rendering them unimpaired,
thus mooting any objection from these parties."

                       About Grupo Aeromexico

Grupo Aeromexico, S.A.B. de C.V. (BMV: AEROMEX) --
https://www.aeromexico.com/ -- is a holding company whose
subsidiaries are engaged in commercial aviation in Mexico and the
promotion of passenger loyalty programs. Aeromexico, Mexico's
global airline, has its main hub at Terminal 2 at the Mexico City
International Airport. Its destinations network features the United
States, Canada, Central America, South America, Asia and Europe.

Grupo Aeromexico and three of its subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 20-11563) on June 30,
2020. In the petitions signed by CFO Ricardo Javier Sanchez Baker,
the Debtors reported consolidated assets and liabilities of $1
billion to $10 billion.

The Debtors tapped Davis Polk and Wardell LLP as their bankruptcy
counsel, KPMG Cardenas Dosal S.C. as auditor, and Rothschild & Co
US Inc. and Rothschild & Co Mexico S.A. de C.V. as financial
advisor and investment banker. White & Case LLP, Cervantes Sainz
S.C. and De la Vega & Martinez Rojas, S.C., serve as the Debtors'
special counsel.  Epiq Corporate Restructuring, LLC, is the claims
and administrative agent.

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors on July 13, 2020.  The committee is represented
by Willkie Farr & Gallagher, LLP and Morrison & Foerster, LLP.



GRUPO AEROMEXICO: Updates Plan to Include Customer Claims Details
-----------------------------------------------------------------
Grupo Aeromexico, S.A.B. de C.V. and its Debtor Affiliates filed
with the U.S. Bankruptcy Court for the Southern District of New
York a Second Revised Joint Plan of Reorganization dated Nov. 29,
2021.

Class 3(a) consists of Aerovias and Grupo Aeromexico Recourse
Claims. The Senior Notes Claims are Allowed in an amount of
$411,355,556 at each of Aerovias and Grupo Aeromexico. Each Holder
of a Class 3(a) subject to and except as otherwise set forth in the
Equity Commitment Party Consideration Elections and the Election
Notices delivered thereunder, its Pro Rata share of (a) the
Unsecured Creditor Cash Distribution and (b) to the extent
necessary to ensure recovery by each Holder of a Class 3(a) Claim
of 100% of the Aggregate Recourse Claim Amount, New Stock in an
amount sufficient to ensure such recovery; provided that if the
Equity Commitment Consideration Elections by the Equity Financing
Commitment Parties would result in more than the full amount of the
Unsecured Creditor Cash Distribution being distributed to the
Holders of Class 3(a) Claims that are Equity Financing Commitment
Parties, such elections shall be reduced pro rata and the
applicable Equity Commitment Party shall receive New Stock in lieu
of such reduced amount received from the Unsecured Creditor Cash
Distribution:

     * The amount of the Unsecured Cash Distribution remaining
after distribution to Holders of Class 3(a) Claims, if any (the
"Remaining Cash Pool") shall be allocated to Classes 3(b), 3(c),
3(d) and 3(e) based upon the same allocation of New Stock to such
Classes;

     * The portion of the Grupo Aeromexico New Stock Allocation and
the portion of the Aerovias New Stock Allocation available for
distribution to Holders of Allowed Class 3(b) and Class 3(c)
Claims, respectively, shall be adjusted to account for the amount
of New Stock used to satisfy the Class 3(a) Claims;

     * The aggregate value of the consideration payable in respect
of a Class 3(a) Claim will be in an amount equal to the full
amounts due and owing on account of such Claim as of the Petition
Date, including any accrued and unpaid interest as of the Petition
Date, but excluding any interest accruing after the Petition Date
(the amount of each such Claim, the "Aggregate Recourse Claim
Amount").

Class 3(b) consists of General Unsecured Claims against Grupo
Aeromexico. Each Holder of a Class 3(b) Claim shall receive, its
Pro Rata share of the Remaining Cash Pool and the Grupo Aeromexico
New Stock Allocation (after accounting for distributions to Holders
of Class 3(a) Claims); provided, that Cash received from the
Preemptive Rights True Up, if any, will correspondingly reduce the
amount of New Stock to be received.

Class 3(c) consists of General Unsecured Claims against Aerovias.
Each Holder of a Class 3(c) Claim shall receive its Pro Rata share
of (i) the Remaining Cash Pool, (ii) the Aerovias New Stock
Allocation (after accounting for distributions to Holders of Class
3(a) Claims), and (iii) the Preemptive Rights True Up allocated to
Class 3(c); provided, that Cash received from the Preemptive Rights
True Up, if any, will correspondingly reduce the amount of New
Stock to be received.

Class 3(d) consists of General Unsecured Claims against Aeromexico
Connect. Each Holder of a Class 3(d) Claim shall receive its Pro
Rata share of (i) the Remaining Cash Pool, (ii) the Aeromexico
Connect New Stock Allocation and (iii) the Preemptive Rights True
Up allocated to Class 3(d); provided that Cash received from the
Preemptive Rights True Up, if any, will correspondingly reduce the
amount of New Stock to be received.

Class 3(e) consists of General Unsecured Claims against Aeromexico
Cargo. Each Holder of a Class 3(e) Claim shall receive its Pro Rata
share of (i) the Remaining Cash Pool, (ii) the Aeromexico Cargo New
Stock Allocation and (iii) the Preemptive Rights True Up allocated
to Class 3(e); provided that Cash received from the Preemptive
Rights True Up, if any, will correspondingly reduce the amount of
New Stock to be received.

Class 4(a) consists of Unsecured Convenience Class Claims against
Grupo Aeromexico. Each Holder of an Allowed Unsecured Convenience
Class Claim against Grupo Aeromexico shall receive, on account cash
equal to the par amount of such Allowed Claim. Unsecured
Convenience Class Claims against Grupo Aeromexico are Unimpaired
under the Plan. Holders of Unsecured Convenience Class Claims
against Grupo Aeromexico are conclusively presumed to accept this
Plan pursuant to section 1126(f) of the Bankruptcy Code.

Class 4(b) consists of Unsecured Convenience Class Claims against
Aerovias. Each Holder of an Allowed Unsecured Convenience Class
Claim against Aerovias shall receive, on account of such Allowed
Claim against Aerovias, a Cash payment in an amount equal to the
lesser of (a) 30% of such Allowed Claim or (b) its Pro Rata share
of the Unsecured Convenience Class Cash Pool. Unsecured Convenience
Class Claims against Aerovias are Impaired under the Plan.

Class 4(c) consists of Unsecured Convenience Class Claims against
Aeromexico Connect. Each Holder of an Allowed Unsecured
Convenience Class Claim against Aeromexico Connect shall receive,
on account of such Allowed Claim against Aeromexico Connect, a Cash
payment in an amount equal to the lesser of (a) 30% of such Allowed
Claim or (b) its Pro Rata share of the Unsecured Convenience Class
Cash Pool. Unsecured Convenience Class Claims against Aeromexico
Connect are Impaired under the Plan.

Class 4(d) consists of Unsecured Convenience Class Claims against
Aeromexico Cargo. Each Holder of an Allowed Unsecured Convenience
Class Claim against Aeromexico Cargo shall receive, on account of
such Allowed Claim against Aeromexico Cargo, a Cash payment in an
amount equal to the lesser of (a) 30% of such Allowed Claim or (b)
its Pro Rata share of the Unsecured Convenience Class Cash Pool.
Unsecured Convenience Class Claims against Aeromexico Cargo are
Impaired under the Plan.

Class 5 consists of Customer Claims against any of the Debtors.
Each Holder of an Allowed Customer Claim shall receive, on account
of such Allowed Claim, a Voucher in the full amount of the Customer
Claim pursuant to the Customer Claims Procedures, or such other
treatment consistent with the Customer Claims Procedures. Any
Holder of an Allowed Customer Claim who receives and returns a
Voucher Election Form and who opts to receive a Voucher by no later
than the Confirmation Hearing, and has otherwise not had their
Claims satisfied pursuant to the Customer Claims Procedures, will
receive the treatment provided to General Unsecured Claims or
Unsecured Convenience Class Claims, as applicable, against the
applicable Debtor on account of such Customer Claim. Customer
Claims are Unimpaired.

Class 8 consists of Interests in Grupo Aeromexico. Holders of
Interests Grupo Aeromexico shall receive no distribution on account
of such Interests provided, however that the Debtors or Reorganized
Debtors, as applicable, shall conduct a Statutory Equity Rights
Offering as required pursuant to applicable Mexican law.

The Debtors shall raise an aggregate of $720 million of equity
capital through the Equity Financing and $762.5 million of debt
through the Debt Financing and/or the Alternative Exit Debt
Financing. In connection with the consummation of the Plan, the
Equity Financing shall be consummated in accordance with the terms
of the Equity Financing Commitment Letter, the Term Sheet, the
Subscription Agreement, and the other relevant Plan Documents the
Debt Financing and/or the Alternative Exit Debt Financing shall be
consummated in accordance with the terms of the Debt Financing
Commitment Letter, the documents setting forth the terms of the
Alternative Exit Debt Financing and the Plan Documents, as
applicable.

On the Effective Date, the Debtors shall consummate the Equity
Financing, through which Reorganized Grupo Aeromexico shall issue
$720 million of equity capital consisting of New Stock and shall
cause Reorganized Grupo Aeromexico to issue New Stock on account of
the Equity Commitment Premium. The New Stock issued pursuant to the
Equity Financing and on account of the Equity Commitment Premium
shall be purchased and/or subscribed by the Equity Financing
Commitment Parties on the terms and conditions set forth in the
Equity Financing Commitment Letter, the Term Sheet and the
Subscription Agreement.

Also on the Effective Date, the Debtors shall consummate either (i)
the Debt Financing, through which Reorganized Grupo Aeromexico
shall issue $ 762.5 million in New First Lien Notes, which the Debt
Financing Commitment Parties have committed to purchase or fund on
the terms and conditions set forth in the Debt Financing Commitment
Letter, New First Lien Notes Indenture and New First Lien Notes
Purchase Agreement or (ii) the Alternative Exit Debt Financing.

The Mexican Investors shall receive the Mexican Investor Stock
(subject to the Specified Dilution), payable on the Effective Date,
in exchange for the Mexican Investor Purchase Amount, the agreement
to comply with the Mexican Investor Covenants and related benefits
to be made available to the Company by the Mexican Investors. The
Mexican Investor Stock shall be issued on the Effective Date to the
Mexican Investors, and the Mexican Investor Stock shall be
allocated to the Mexican Investors according to an allocation
schedule acceptable to the Mexican Investors.

The Debtors shall fund Plan Distributions with (a) the proceeds of
the Equity Financing; (b) the proceeds of the Debt Financing; (c)
Cash on hand; and (d) New Stock in Reorganized Grupo Aeromexico.

Counsel to the Debtors:

     DAVIS POLK & WARDWELL LLP
     450 Lexington Avenue
     New York, New York 10017
     Telephone: (212) 450-4000
     Facsimile: (212) 701-5800
     Marshall S. Huebner
     Timothy Graulich
     James I. McClammy
     Stephen D. Piraino
     Erik Jerrard

                   About Grupo Aeromexico

Grupo Aeromexico, S.A.B. de C.V. (BMV: AEROMEX) --
https://www.aeromexico.com/ -- is a holding company whose
subsidiaries are engaged in commercial aviation in Mexico and the
promotion of passenger loyalty programs. Aeromexico, Mexico's
global airline, has its main hub at Terminal 2 at the Mexico City
International Airport. Its destinations network features the United
States, Canada, Central America, South America, Asia and Europe.

Grupo Aeromexico and three of its subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 20-11563) on June 30,
2020. In the petitions signed by CFO Ricardo Javier Sanchez Baker,
the Debtors reported consolidated assets and liabilities of $1
billion to $10 billion.

The Debtors tapped Davis Polk and Wardell LLP as their bankruptcy
counsel, KPMG Cardenas Dosal S.C. as auditor, and Rothschild & Co
US Inc. and Rothschild & Co Mexico S.A. de C.V. as financial
advisor and investment banker. White & Case LLP, Cervantes Sainz
S.C. and De la Vega & Martinez Rojas, S.C., serve as the Debtors'
special counsel.  Epiq Corporate Restructuring, LLC, is the claims
and administrative agent.

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors on July 13, 2020.  The committee is represented
by Willkie Farr & Gallagher, LLP and Morrison & Foerster, LLP.


MEXICO: Bank Ups 2021 Inflation View, Lowers Growth Forecast
------------------------------------------------------------
globalinsolvency.com, citing Reuters, reports that the Bank of
Mexico raised its inflation forecast and lowered its growth
expectations for this year, saying the balance of risks for
inflation had deteriorated and were biased to the upside.

Banxico, as the bank is known, projected gross domestic product
growth of 5.4% for 2021, down from a prior view of 6.2%, according
to globalinsolvency.com.  It forecast 3.2% growth in 2022, up from
a previous estimate of 3.0%, the report notes.  The balance of
risks for growth are biased to the downside and those risks include
a worsening of the pandemic that prompts new containment measures,
as well as ongoing supply chain bottlenecks and higher input costs,
Banxico said, the report relays.

Meanwhile, average annual headline inflation for the fourth quarter
is seen at 6.8%, up from a previous forecast of 5.7%, Banxico
added, the report relays.  Mexican inflation has continued to rise
despite rate hikes, the report discloses.  In annual terms,
inflation rose faster than expected in the first half of November
to more than 7%, the highest rate in over two decades and more than
double Banxico's inflation target of 3%, plus or minus a percentage
point, the report adds.




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T R I N I D A D   A N D   T O B A G O
=====================================

CARIBBEAN AIRLINES: Chief Operating Officer Resigns
---------------------------------------------------
RJR News reports that Trinidad's Guardian newspaper is reporting
that another senior executive at Caribbean Airlines has resigned.

This time it's the airlines' Chief Operating Officer, Steve
Acevedo, according to RJR News.

CAL confirmed the departure earlier in the week but gave no details
beyond that Mr. Acevedo had resigned and Yannis Gounaris had also
left the company, the report notes.

Guardian Media reported last month that Mr. Gounaris resigned from
the post of CAL's Chief Commercial Officer, the report relays.

Mr. Acevedo is reported to have left on November 19.  He had been
COO since around 2018.

During Caribbean Airlines move to restructure and downsize staff
following heavy financial problems due to the covid-19 pandemic,
there were concerns in Trinidad and Tobago about the company's
top-heavy management, the report says.

The airline has moved to streamline operations, including routes
and aircraft assists, the report discloses.

Meanwhile, Caribbean Airlines move to retrench about 45 per cent of
its 252 pilots is said to be headed for the Industrial Court in
Trinidad, the report says.

The pilots' issues were taken to the Labor Ministry but were
unresolved, the report adds.


                     About Caribbean Airlines

Caribbean Airlines Limited - http://www.caribbean-airlines.com/-  

provides passenger airline services in the Caribbean, South
America, and North America.  The company also offers freighter
services for perishables, fish and seafood, live animals, human
remains, and dangerous goods.  In addition, it operates a duty
free store in Trinidad.  Caribbean Airlines Limited was founded in
2006 and is based in Piarco, Trinidad and Tobago.

Caribbean Airlines is among many airlines whose business has been
greatly affected in 2020 by the slowdown of international travel
caused by the COVID-19 pandemic.  The government of Trinidad &
Tobago guaranteed a US$65 million loan for the airline, and that
funding has helped with the airlines' cash flow shortfall since
May 2020.  In September 2020, the airline related it will be taking
cost-cutting measures to help keep it afloat.  The measures, which
was to affect some 1,700 employees, included salary deductions,
no-pay leaves and lay-offs.



                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C.,
USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A.
Chapman, Editors.

Copyright 2021.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed to
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