Maybe I can explain why the 2 airlines were merged under a totally new identity;
When an airline is taken over, or 2 airlines are merged under the identity of the larger one there are often problems of resentment and bad feeling among the staff of the that loses it's identity towards the comany/staff that is the dominant airline.
For example when Air 2000 took over Leisure the staff and aircraft were absorbed into Air 2000, but there were difficulties because staff felt they had been treated like they were from a bankrupt company because they were being made to work for a new employer (not true) Although the Air 2000 has better pay and conditions than Leisure had, this only lead to feelings that the ex-Leisure staff were inferior in some way (also, not true) So you see both groups of employees feel resentment towards one another and you no longer have a unified workforce I've simplified this but they are the main points.
When you have a new company, these feelings are minimised, jmc Air will be new to everybody be they from Caledonian or Flying Colours. However, the problem here is it's fairly clear to everyone that FCL is the dominant airline and CKT is being taken over. The same situation has arisen as AMM/LEI, however the reason for jmc AIR was to avoid this, it just wasn't handled that well be the management ie keep FCL management, get rid of CKT management etc...
Also, the name I believe is jmc AIR.
All that said, It doesn't mean I like the name or the livery. The name I hate, the livery is growing on me!