Pan-Caribbean Airlines: Unlocking Regional Aviation Potential

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Published: Aug 10, 2025
Keywords:
Caribbean air connectivity, Airline consolidation, Virtual airline, Economic impact, Pan-Caribbean carrier

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Dimitrios Siskos
Embry-Riddle Aeronautical University, Worldwide College of Business
https://orcid.org/0000-0002-8324-5630
Alexander Maravas
https://orcid.org/0000-0003-3029-1753
Jordan Karatzas

Abstract

The Caribbean's air transport system is facing significant challenges, including operational fragmentation, excessive costs, and inadequate inter-island connectivity. These challenges limit its ability to support the region’s heavily tourism-dependent economies. This research evaluates whether consolidating small Caribbean airlines into a single or virtual Pan-Caribbean carrier could transform regional air travel. Based on financial analysis, historical traffic data, and case comparisons with airline mergers in South America and the US, the paper simulates the anticipated efficiencies resulting from route consolidation, fleet standardization, and common operational services. The research concludes that consolidation may create a regional GDP impact of up to $3.3 billion and generate over 200,000 new jobs. Research highlights regulatory harmonization, stakeholder coordination, and governance reforms as essential conditions for success. Despite transparency challenges, a unified Caribbean airline offers a compelling path to regional economic integration, improved connectivity, and long-term sustainability in aviation.

Article Details

Issue
Vol. 43 No. 2 (2025): Collegiate Aviation Review International
Section
Peer-Reviewed Articles
Author Biographies

Dimitrios Siskos, Embry-Riddle Aeronautical University, Worldwide College of Business

Dimitrios Siskos is an assistant professor of finance at the College of Business on the Worldwide Campus at Embry-Riddle Aeronautical University. He has extensive experience in the professional industry, as well as teaching and researching in academia. He is enthusiastic about imparting knowledge and believes in constant self-improvement. He is very meticulous and values accurate data. Additionally, he owns and manages www.thinkingfinance.info, which features his research, projects, and writings.

Alexander Maravas

Alexander Maravas holds a B.S.E. in Mechanical and Aerospace Engineering from Princeton University, an MSc in Advanced Mechanical Engineering from Imperial College, and a PhD in Project Management from the National Technical University of Athens. He has over 27 years of experience in transport infrastructure projects. His research interests include project management, scheduling, transport infrastructures, investment appraisal, aviation, and aerospace.

Jordan Karatzas

Jordan Karatzas is an accomplished airline executive.  He was CEO of Olympic Airways Group (the flag carrier of Greece) and Chairman of SkyEurope Airlines of Vienna, Austria. He was also Board member of TCR international, a leader in airport ground service equipment. Educated as aeronautical engineer at Princeton University and MIT, Jordan has been a practicing advisor on airline strategy, growth, operational and organizational restructuring and transformation.