Chairman of the Stanford group of companies, R. Allen Stanford, has announced today that there are no current plans for closure of Caribbean Star Airlines. This comment was made in response to recent public speculation.

As previously stated by Mr. Stanford, his intention is to assume a more active role in directing the company’s continued growth. Mr. Stanford added that he would be reviewing the operation in its entirety.

He further indicated that initial meetings have recently been held with the pilots in order to discuss and address their specific issues and concerns, and stressed that this was the first step towards broader employee participation in the ongoing strategic management of the airline.

The Chairman is focused upon plans for further development of the airline’s products, world-class quality services and employee satisfaction, in fulfillment of his vision for Caribbean Star and its sister airline Caribbean Sun to become the world’s best airline.
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