The museum provided aircraft restoration, maintained and displayed historically significant vintage aircraft, some of which were in flyable condition, and maintained an aviation collections department featuring aviation artwork.

[6][7] A spokesperson for the town of Addison told WFAA that the museum's lease had been terminated to allow the site to be redeveloped as new hangars, office space, and parking.

[8] The flight museum housed an aviation art gallery that includes pieces from Keith Ferris, Roy Grinnell, William Phillips, John Shaw, Stan Stokes, Robert Taylor, and Nicholas Trudgian.

In a January 2008 press release,[9] the Commemorative Air Force and the Cavanaugh Flight Museum pledged $1.2M USD to re-engine FiFi, a B-29 Superfortress.

As a result of the contribution, FiFi was returned to flight status, and the B-29/B-24 Squadron of the CAF was relocated from Midland, Texas, to Addison Airport.