A new investigation revealed that Caribbean Airlines (CAL) has incurred losses of over TT$1.7 billion (U.S. $255 million) since acquiring Air Jamaica (AJ) in 2011 and managing AJ’s base operations.
The investigation by the Trinidad & Tobago Guardian analyzed unaudited account figures from 2012 to 2025. The numbers show that while Air Jamaica routes have made money for the airline, with the exception of 2020 during the pandemic and 2025, personnel and administrative costs have increased since 2020.
CAL sources
told the regional outlet that the Jamaican government has not contributed any money to the airline since becoming a part-owner in 2011. Under the original ownership agreement, Jamaica held a 16% stake in the company, but that share has since decreased to 11.8%. Sources indicated that if Jamaica’s stake falls below 10%, the country will lose its right to have a representative on the airline’s board of directors.Currently, there are two Jamaican directors on the CAL board.
CAL Is Feeling The Financial Impact
While CAL has pressed Jamaican government officials for financial support for the airline, nothing has been offered.
Trinidad & Tobago Guardian’s investigation revealed that CAL’s expenses come amid a trying time for the airline, as it seeks further financial support to offset rising fuel costs. Without
the Jamaican government’s support, travelers could see an increase in overall ticket costs, a reduction in “lower revenue routes,” and a fuel surcharge to help write off its billion-dollar debt.Former Director of the Civil Aviation Authority (CAA) of Trinidad and Tobago, Ramesh Lutchmedial, told the outlet that the “Jamaican diaspora never supported CAL.”
“Instead, [they] chose to fly with other airlines. CAL stuck to the agreement, and in the first two years, CAL lost over USD$200 million. Eventually, CAL had to drop the loss-making routes,” said.
He continued, “Also, during the pandemic and throughout CAL’s loss-making periods, despite the fact that Jamaica is a shareholder and employs hundreds of Jamaican citizens, the Jamaican Government has not injected a single cent into CAL.”
In 2025, CAL discontinued flights between Fort Lauderdale, Florida, and Montego Bay and Kingston due to “poor performance.”
RELATED CONTENT: Airline Ticket Prices Jump Worldwide As Iran War Pushes Fuel Costs Higher