The squadron was formed in the United Kingdom in January 1945 and sailed for Australia in February, arriving in March, where it was officially commissioned on 10 April 1945 at RNAS Schofields, MONAB III (HMS Nabthorpe), near Schofields, New South Wales.

[3] The squadron was equipped with thirty-six total aircraft, six of each of the operational types then in use with the British Pacific Fleet.

[4] In January 1962 the squadron was reformed for a second time as a helicopter training unit at RNAS Culdrose (HMS Seahawk) flying the Westland Wessex HAS.1, providing conversion courses to the new type and giving advanced training to specialist pilots.

[2] In January 1970 it converted to the Westland Sea King HAS.1, and in February 1975 Wasp training was transferred to 703 Naval Air Squadron.

[2] From February 1978 until April 1993 it was administrative host for the Royal Air Force's Sea King Training Unit.