Cayman Airways considers purchase of planes

(CNS Business): The new tourism minister has revealed that Cayman Airways Limited is consideringbuying some, if not all, of the planes it currently leases following feedback from the leasing company and discussions with the UK. Cline Glidden explained that the four aircraft cost CAL more than $6.3 million per year in fees and, as the planes are coming to the end of their leases over 2013/14, which will see the airline facing return costs, buying the aircraft could well prove to be much better value for money for the public purse. Because CIG is squeezed when it comes to borrowing, the minister said that he had sought advice from the UK’s economic advisor, who has agreed to help the national flag carrier and will arrive in Cayman next week. Read more and comment on CNS Business