Bahamasair\u2019s net loss nearly doubled in the 2009\/2010 fiscal year to almost $24 million as compared to the net loss recorded the previous fiscal year, according to the airline\u2019s latest annual report.<\/p>\n
The 2009\/2010 Bahamasair report was tabled yesterday in the House of Assembly by Minister of Public Works and Transport Neko Grant.<\/p>\n
The total net loss for Bahamasair in 2009\/2010 was $23.6 million as compared to the $12.99 million loss Bahamasair recorded the previous fiscal year.<\/p>\n
As a result of the large loss Deloitte and Touche, the auditing firm responsible for the report, expressed concern about the Bahamasair\u2019s future.<\/p>\n
Bahamasair has been a burden on the Public Treasury for years. According to the report, Bahamasair has incurred an accumulated deficit of $473 million since it was incorporated in 1973. Bahamasair has not had a profitable year since it was created.<\/p>\n
The report further revealed that Bahamasair\u2019s total income decreased significantly over the period in question.<\/p>\n
It fell to $59.59 million in 2009\/2010 from the $78.8 million recorded in 2008\/2009.<\/p>\n
Total expenses at the airline moderately decreased from $91.54 million in 2008\/2009 to $85.1 million in 2009\/2010.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bahamasair\u2019s latest annual report shows a 2009\/2010 fiscal year net loss of $24 million, nearly double the net loss recorded the previous fiscal year.<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[42],"class_list":["post-8467","post","type-post","status-publish","format-standard","hentry","category-business","tag-airlines"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/8467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=8467"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/8467\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=8467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=8467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=8467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}