Two investment groups announced plans Monday to invest a combined total of more than $460 million in separate acquisitions that will strengthen Puerto Rico’s status as a high-end luxury resort destination.

LIAT will be cutting some of its unprofitable routes over the next three months as part of a program to fix the cash strapped airline. Chairman of the regional airline, Dr. Jean Holder, made this disclosure last Thursday, following a meeting with the four shareholder governments in Barbados.

The German airline group generated an operating profit of EUR1.04 billion (US$1.4 billion) for the 12-month period, up 62 percent compared to 2012. The result was achieved despite a 0.4 percent dip in revenues, to EUR30.03 billion.