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CAL's $1.7 billion loss
Posted: Sunday, April 5, 2026
CAL's $1.7 billion loss on Air Jamaica
According to CAL sources, to date, there has been no financial contribution by the Government of Jamaica (GOJ) to the airline's operation since the shareholders' agreement was signed on May 26, 2011, which gave it a 16 per cent equity interest in the company. That equity has since been diluted and now stands at 11.8 per cent. Further dilution, Guardian Media Investigations Desk was told, to under ten per cent would remove Jamaica's right to a director on the board according to the shareholders' agreement.
Guardian Media Investigations Desk understands that CAL, during the pandemic and more recently, through the Ministry of Finance, made requests to the Government of Jamaica for financial support for the airline, but none has been forthcoming.
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