Cayman Airways Cayman Airways Cayman Airways is the flag carrier airline of the British Overseas Territory of the Cayman Islands. With its head office in Grand Cayman, it operates mainly as an international and domestic scheduled passenger carrier, with cargo services available on most routes. Its operations are based at Owen Roberts International Airport in George Town, Grand Cayman. The airline was established and started operations on August 7, 1968. It was formed following the Cayman Islands Government's purchase of 51% of Cayman Brac Airways which was founded in 1955, from LACSA, the Costa Rican flag carrier, and became wholly government owned
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