Most of us love Air Jamaica - very much. For nearly four decades it has been an iconic symbol of Jamaica, a source of swelling pride. We have had reason to be proud. Air Jamaica's safety record and brand recognition are exemplary.

But there comes a time when you accept that sentiment is unsustainable, and that the time has come for tough decisions. That time is long past for Air Jamaica; for us to bring its agony to an end. Air Jamaica has bled too profusely for too long. It must be put out of its misery.

The fact is, in the last financial year Air Jamaica recorded an operating loss of over US$170 million, and most optimistic assessment is that it will rack up a similar, or worse, loss in 2008. That is well beyond the US$30 million the Government set aside in the current national budget as a subsidy for the airline. Those projections do not include the amounts the Government will have to contribute towards servicing Air Jamaica's debts, which are part of the contingent liability of the Jamaican state.

Accumulated losses

Indeed, over the last decade, the airline has racked up accumulated losses of over US$1 billion, more than on-budget allocations over the same period for the national infrastructure. Losses of this magnitude are clearly unsustainable and there can be no credible argument for Jamaican taxpayers to continue to bear this burden. Air Jamaica does not offer stable long-term conditions of employment to its estimated 2,500 staff. Nor is it capable anymore of giving timely performance to its much larger customer base.

While many of Air Jamaica's problems are accumulative, historic and sector-related, its difficulties are being exacerbated by its current leadership, which appears lacking. The board seems to be largely filled with political associates rather than persons with business experience. Their actions appear erratic and opaque.

The Hon Dennis Lalor has recently joined the board, presumably with the aim to help bring coherence to their actions to help with the task of divesting the airline, which the administration says should happen some time next year. Sadly, they don't have that long which, hopefully, is what Mr Lalor will tell his colleagues.

Firm deadlines

So, some firm deadlines must be established: divest the airline in three or four months or close it down. Maybe, as the Government says, someone will want to buy it - possibly Air China, Virgin, Iberia or the Emirates Group. Well, let them have a go. It is noted, though, that the last divestment initiative did not last and was not successful in making the airline profitable.

Once the administration is freed of the weight of Air Jamaica, the funds now being wasted will, hopefully, be used for what ought to be the Government's major responsibilities - health, education and national security.

For the last days of its life, the board of Air Jamaica should make its accounts and financial performance publicly available, as well as advising the public of the timetable for divestment or closure.

There are other publicly owned entities that are making large losses, and Prime Minister Golding must also be decisive about them and close as many as possible of these bottomless pits for public funding.