The Economic Regulation & Administration division at the CAACI oversees the economic regulation of the Cayman aviation industry. The primary responsibilities are as follows:
To establish principles in accordance with ICAO recommendations for economic policy (that include non-discrimination, cost-related, transparency and consultation with users) to regulate air transport services, service providers and facilities;
- To license scheduled and non-scheduled air transport operators (this includes all charter and air ambulance providers) in accordance with the Air Navigation (Overseas Territories)
- Order with an aim to ensure all operators are duly licensed and providing the highest standards of safety for the travelling public;
- To provide a liaison between the Cayman Islands Government and the UK’s Department for Transport for the purpose of negotiating international air service agreements that impact the Cayman Islands (bilateral or multilateral agreements);
- To collect and collate statistics and industry indicators pertaining to the air transport industry that can be used for development and planning purposes;
- To monitor fares/tariffs for the Cayman Islands aviation industry.