British Overseas Airways Corporation (BOAC) was the British state-owned airline created in 1939 by the merger of Imperial Airways and British Airways Ltd. BOAC held shareholdings in a number of other airlines operating in several parts of the British Commonwealth through a subsidiary, BOAC Associated Companies. This included Bahamas Airways.
In 1962, BOAC and Cunard formed BOAC-Cunard Ltd to operate scheduled services to North America, the Caribbean and South America. BOAC-Cunard leased any spare capacity to BOAC which could use it to supplement the main BOAC fleet at peak demand, and in a reciprocal arrangement BOAC would provide capacity to BOAC-Cunard on some operations when it had a shortfall.
The effect of this arrangement was to remove competition on western routes but was dissolved in 1966.