Caribbean Airlines reports losses after Air Jamaica takeover

Trinidad and Tobago: Caribbean Airlines has been in financial difficulties since it took over Air Jamaica over a decade ago. The airline, which operates from Port of Spain, bought Air Jamaica as part of a regional aviation plan in 2011. Since then, both the companies have been facing challenges to make a profit.

According to the statistical data, Caribbean Airlines has lost over TTD 1.7 billion (USD250 million) from its Jamaican operations. It also reported losses of USD 254.7 million during the fiscal years 2012 to 2025, as a result of operating the Jamaican base.

In 2015, Air Jamaica was merged into Caribbean Airlines and ended its separate operations. The Jamaican government did not provide any financial support to Caribbean Airlines. This also resulted in a drop in their ownership, which went from 16% to 11.8%. Air Jamaica will also lose its right to keep a director in the airline’s board if the shares fall below 10%.

Caribbean Airlines is experiencing drastic changes. The government, led by Prime Minister Kamla Persad-Bissessar, has advised the airline to improve its performance. Many executives who were members of the board have departed, with new executives taking their place.

The airline is also seeking financial support to stabilize its operations. During the COVID-19 pandemic period, Caribbean Airlines asked for support from Jamaica via Trinidad and Tobago’s Ministry of Finance. But the company received no help.

Due to low demand among the tourists, the airline stopped its services from Montego Bay and Kingston to Fort Lauderdale in 2025. Even the government of Jamaica stopped the airlines’ operations after the International Monetary Fund set some conditions as part of the USD1.2 billion bailout in 2010.

The transition to Caribbean Airlines was expected to witness an increase in regional air travel but records reveal that the transition did not live up to the expectations. Currently, Caribbean Airlines is still at the start of its financial recovery.