Owen Roberts International Airport in August 1968 following the purchase of 51% of Cayman Brac Airways by the Cayman Islands Government from LACSA, an air carrier based in Costa Rica. The first aircraft type operated by Cayman Airways was a Douglas DC-3. International service was initially operated to Miami with a leased Douglas DC-6 propliner and the first jet operations were flown between the airport and Kingston, Jamaica with a British Aircraft Corporation BAC One-Eleven leased from LACSA. In 1972, the airline was operating its own stretched BAC One-Eleven series 500 jets on nonstop flights to Miami and Kingston as well as operating Douglas
Airline air carriers, to rescheme an airlines assets into a profitable organization or liquidating an air carrier of their profitable and worthwhile routes and business operations. Thus the last 50 years of the airline industry have varied from reasonably profitable, to devastatingly depressed. As the first major market to deregulate the industry in 1978, U.S. airlines have experienced more turbulence than almost any other country or region. In fact, no U.S. legacy carrier survived bankruptcy-free. Among the outspoken critics of deregulation, former CEO of American Airlines, Robert Crandall has publicly stated: "Chapter 11 bankruptcy protection filing shows airline industry deregulation was