CAL chairman Philip Marshall said yesterday the company has completed financial audits for the years 2010 and 2011 and they are now with the Ministry of Finance.
He said once the audits were approved, a date will be set for an AGM.
Asked how the company was doing given that last May, Howai had said losses amounted to $700 million, Marshall said that the financials had “substantially improved”.
He said CAL fared well during 2013’s summer months of July and August. He said the company took a decision not to wet lease aircraft and this had reduced costs so the airline thus enjoyed a “good financial period”.