The airline was established on 23 December 1996 as Air Plus Comet and started operations on 1 March 1997, based at Madrid-Barajas Airport.

On 11 December 1996 Oasis airline ceased operations and their only aircraft, an Airbus A310, and many of their pilots and staff became the foundation of Air Plus Comet.

It mainly operated long-haul charter services from Madrid and Palma de Mallorca to destinations in America and the Caribbean.

[3] On 11 February 2009, Air Comet was suspended from the IATA Clearing House due to non-payment of its January balance.

[4] On 21 December 2009, a High Court in London emitted a verdict favoring the German bank HSH Nordbank, which had sued Air Comet for not meeting the terms of payment for their leased aircraft.