Burnelli had a lifelong career devoted to exploiting the advantages of the lifting body airfoil concept that characterized many of his earlier aircraft designs. His last design, the CBY-3 was manufactured by CanCar in Montreal, but ownership reverted to Burnelli, when the CBY-3 was unable to gain a production contract. The name of the aircraft, CBY-3, was derived from the name of the three partners involved in its creation: CanCar, Burnelli and Lowell Yerex and "3" from the number of partners involved. Lowell Yerex was a New Zealander who had formed TACA – "Transportes Aéreos Centroamericanos" (Central American Air Transport) in Honduras in 1931, and joined the project when Burnelli convinced him that the CBY-3 could be used as both a cargo and passenger aircraft.