Air Jamaica has lost approximately $70m during the past 12 months and will require additional financing.
The carrier’s chief executive and deputy chairman Christopher Zacca said the airline had suffered from the events of September 11.
In the aftermath of the attacks, Zacca said the airline had also shelled out an additional $6m in insurance and $25m in security costs.
Chairman Gordon “Butch” Stewart said the expense was continuing with US Federal Aviation Administration requiring Air Jamaica to install bullet-proof cockpit doors in all 20 of its aircraft by April at a cost of $60,000 each.
Air Jamaica vice president of marketing and sales Allen Chastenet added that although yields had declined, the airline carried more passengers in the past year than in the 12 months before September 11.
Air Jamaica cut its capacity by 14% after September 11 but returned to full capacity by December.
Stewart said the airline carries 63% of people who fly from the US to Jamaica and 61% from the UK.
