Regional airline, LIAT is expected to end 2017 with a loss of US$13.25 million due to Hurricanes Irma and Maria, a report by Caribbean Tourism Association (CTO) has stated.

It anticipates a US$4.6 million loss between October and December 2017.

Prime Minister Dr. Ralph Gonsalves of St. Vincent & the Grenadines, the chairman of LIAT’s shareholder governments, said 408 flights were canceled between June and September, compared to 67 for the same period last year.

This was as a direct result of the closure of airports in Dominica, St. Maarten, the BVI and Puerto Rico.

These markets account for 30 percent of total LIAT flights and 34 percent of total revenue.

LIAT anticipates that it will take nine to 12 months for market recovery, the CTO report stated.