[1] Its founder and CEO, Predrag Vujović, had previously attempted to set up an airline company called Air Maxi, but those plans had been abandoned due to a lack of funding.

[citation needed] Similarly, the Montenegrin government denied the airline landing rights due to Serbian withdrawal of the AOC of Montenegro Airlines' daughter company, Master Airways, rejection dramatically deteriorated the economic ties between the two former Yugoslav Republics.

The airline's demise was seen as collateral damage of the unresolved issues and disputes between the Republics of former Yugoslavia.

Centavia had received permissions and landing rights from Slovenia, Germany, Italy and Switzerland and planned to start flights to these states in the winter of 2006.

Centavia also held informal talks with Wizz Air of Hungary to jointly operate certain flights.