They already said they were going forward with phase 3, without reaching the 80% target. but Phase 3 still requires quarantines. I will be surprised if they still go through with Phase IV next month that would eliminate the quarantine requirement for some visitors. And even if they do, I will be surprised to see many airlines follow through on restarting their flights right away, given how flighty the Cayman Govt has been about following through on previous openings. Last thing those airlines want to do is send empty planes back and forth to GC.
I remember trying to get to the Caymans after Hurricane Ivan when they reopened to incoming flights and tourists going to the Sister Islands, and for several weeks, only Cayman Airways and British Airways were running flights.