[Michael.SF.]

That is the traditional, and popularly accepted interpretation.

In "Into the Mystic" though Morrison refers not to: "Skye" as in the isle, but to "sky" as in the heavens. Thanks

[Fiji Hill]

The traditional interpretation of the Skye Boat Song is hard to argue with, given its references to the Battle of Culloden and Flora MacDonald, who helped Prince Charlie escape.