The incorporation of acoustic metamaterials in the design of aircraft fuselage panels in order to reduce the low frequency noise inside the cabin is nowadays a major research subject in order to offer passengers a comfortable cabin environment. In this study, acoustic metamaterial made of Helmholtz resonators periodically embedded into a porous material is investigated using a transfer matrix approach combined with finite element calculations. This transfer matrix method is based on the two-load methods where the two loads in the numerical simulations are two different termination conditions (plane wave radiation and rigid wall) in order to retrieve the equivalent transfer matrix of the porous layer with embedded periodic Helmholtz resonators. The equivalent matrix is then coupled analytically in series with others analytical matrices to model complex multilayer metamaterials. The results of the transmission loss obtained exclusively using finite element method for single and double wall configurations are compared with the results of the proposed transfer matrix method and good agreements are obtained. It is observed that the frequency band of the transmission loss of the double wall configuration is larger than the one of the single wall configuration with higher transmission loss peak value. The investigated metamaterial can potentially be used in the design of aircraft cabin panels for low frequency noise reduction.