An airplane tray cover multi-compartment holder system and method for holding and transporting a plurality of airplane tray covers. The system and method generally includes a case with a plurality of individual compartments for holding a tray cover isolated from other compartments. Individual compartments are defined by an arrangement of exterior and interior panels and surfaces. Each compartment has a corresponding door that is pivotable between open and closed positions. Each door has a window through which tray covers can be viewed without opening the door. A window may include a movable spring-biased latch for automatically latching the door to a stationary latch on the case as the door closes. The tray covers and compartments may have indicia that uniquely identify them. A tether with magnetic elements on its ends may be selectively attached to the case by joining the magnetic elements.