It was purchased in 1983 by Provincial Investments Inc., owned by Roger Pike, along with associate company, Labrador Aviation Services Ltd. Air Labrador was owned by the Pike Family, but then taken over by Philip Earle in 2010.

Air Labrador conducted a fantasy flight in the 1990s with a Santa Claus visit on board while it taxied the tarmac.

[4] In March 2009, the company announced they were ceasing flight service to Montreal due to financial trouble.

Airline service ended in Newfoundland in May 2009, two months after announcing the shut down of Montreal operations.

On February 3, 2012, the company announced that the Nunatsiavut Government had bought a 51% share in Air Labrador.