The airport is headquarters and hub for Cincinnati-based public charter airline Ultimate Air Shuttle, serving 5 destinations in the eastern United States with 16 peak daily flights.

[5] On December 17, 1925, the Embry-Riddle Company was formed at Lunken Airport by T. Higbee Embry and John Paul Riddle.

[a] During the Ohio River flood of 1937, the airfield and two-story main terminal building at the southwest corner of the airport were submerged, except for the third-floor air traffic control "tower".

A plaque (which appears from ground level to be a single black brick) on the terminal building, facing the airfield, indicates the high-water mark.

[15] As early as 1948 and continuing to at least 1966, the Greater Cincinnati Airmen's Club held an annual cross country air race at the airport.

In 2009 Ultimate Air Shuttle began operations at Lunken with a flight to Chicago–Midway, and has since expanded to four cities, including Chicago, New York, Charlotte, and Cleveland.

[27] A report released in 2024 noted that Lunken was operating at half capacity and suggested that the city should lease it to Cincinnati/Northern Kentucky International Airport.

[28] Concurrently, the new airport manager moved forward with plans for a new customs office, the closure of runway 3L/21R and the removal of an old hangar.

On October 30, 2007, Air Force One landed at Lunken as President George W. Bush visited the abutting Cincinnati neighborhood of Hyde Park for a fundraiser for Republican Congressman Steve Chabot.

[35] On February 5, 2018, a Boeing C-32 flying as Air Force One landed at Lunken bringing President Donald Trump for an address to the employees of Sheffer Corporation in nearby Blue Ash.

[41] In 2019, the lease agreement for the restaurant was nearly cancelled by the city due to potential food safety risks reported by the Health Department.

[42] After an online petition on change.org gained over 17,000 signatures, an agreement was reached in which the city would provide up to $100,000 to help renovate the restaurant and grant it another 5-year lease if the owner committed to correcting the violations.

A small pilot supply shop called The Flight Depot is located on the first floor and the Cincinnati Aviation Heritage Society & Museum is on the second.

[53] For the 12-month period ending December 31, 2022, the airport had 114,630 aircraft operations, an average of 314 per day: 89% general aviation, 11% air taxi, <1% military and <1% scheduled commercial.