The wreckage of the Bandeirante was strewn about the Santa Rita Mountains near Colón. Panamanian investigators quickly determined that the explosion had been caused by a bomb, probably detonated by a suicide bomber aboard the aircraft. Only one body was not claimed by relatives; this body is believed to be that of a man named Jamal Lya. Officials suspected that the incident was an act of terrorism directed against Jews in part because it took place one day after the AMIA bombing in Buenos Aires, Argentina.
Soon after Flight 00901 crashed, an organization using the name Ansar Allah, or "Followers of God", issued a statement expressing support for the bombing, and claiming that the attack was a suicide operation by a person with an Arab name. Later, it was determined the organization did not exist. Panamanian authorities have made no arrests in connection with the bombing; The case remains officially unsolved.