A derogatory term used to refer to the boys and girls who have joined the Air Force Cadets. Also used as an alternate name for the Air Force Cadets. This word is most commonly used by non-air cadets to put air cadets down, likening them to fairy's because they fly and fairy's are childish and maybe slightly homosexual. It is suspected that all Air Force Cadets, or Airy Fairy's are gay.
"What'd ya do at airy fairy's last friday?", "Ummmm, no mate, you're a airy fairy"