Cayman Airways has been given approval by the Cayman Islands government to proceed with its fleet modernisation plan which will see it replace four 737-300 aircraft with newer versions of the aircraft.
The airline will begin the modernisation of its aircraft in Q4 2016 where it will initially bring one 737-800 into its fleet followed by four new 737-8MAX aircraft.
The programme is expected to be completed by 2020.
Cayman Airways chairman Philip Rankin said despite only purchasing the soon to be retired 737-300s in 2014, the transaction was done so on the basis that the aircraft would only be in service for three to five years.
Rankind added: "We have selected the new 737-8MAX aircraft which have much drastically lower operating costs than the airline’s existing Boeing 737-300 aircraft, but come with the added benefit of 30 per cent more seating capacity."