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Air Jamaica Requesting Government Write-Off of $24.7B, February 25, 2005

Jamaica's national airline, Air Jamaica, has faced a plethora of financial problems in recent years, having accumulated over $24.7 billion (the equivalent of US$398 million) in debt under private ownership. It is now asking for the government to write off the debt. Additionally, Air Jamaica owes money to investors to the tune of US$500 million and is trying to secure investment for its 5-year financial plan. A few months ago, ownership was resumed by the Jamaican government.


News Stories

"Air Jamaica seeks bailout - Wants gov't to write off $24.7 billion in losses "
Jamaica Gleaner February 25, 2005
"Lawrence suggests Gov't keep Air J for 5 years "
Jamaica Observer February 25, 2005

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February 25, 2005