The club's logo featured an eagle with wings spread positioned atop the five-torch emblem of Yugoslavia, with a laurel wreath in the background and a red five-pointed star on top.
Initially the team was led by player-manager Zvonko Monsider, an accomplished goalkeeper formerly of HŠK Concordia, now "borrowed" from Dinamo Zagreb in the first half-season, the club finished third, level on points with Budućnost from Titograd and Sloga from Novi Sad.
In the quarter-final they beat Spartak Subotica to qualify for the final-four stage played over two days at Stadion Avala in Belgrade.
Naša Krila finished as runners-up, losing the final 0–2 to Partizan, the multi-sports club affiliated with the Yugoslav People's Army (JNA), i.e. the country's armed forces.
During the 1948 Marshal Tito Cup season in November Naša Krila beat Budućnost to reach the final-four stage in Belgrade again.
By the first round of the next edition of the Marshal Tito Cup, played two weeks later, on 26 November, the club had already been de-registered.
During the 1950 summer break, the only Naša Krila player called up by Yugoslavia manager Milorad Arsenijević for the World Cup in Brazil was defender Siniša Zlatković.