The carrier was founded by Ioannis Zlatanis, founder of Interaviator Ltd, and Anastasios Zirinis, former CEO of Olympic Aviation.
It launched operations on 5 July 2008, flying from Thessaloniki to Rhodes.
[4] On 9 November 2019, it was reported that Astra Airlines faced severe financial difficulties and was searching for an investor to maintain its current operations.
[citation needed] On 14 November 2019, IATA announced that it had suspended the airline and warned Greek travel agents to stop selling tickets on the airline with immediate effect.
[6] On 18 November 2019, it was reported that the airline would not resume operations for good.