It is a subsidiary of the Moldovan low-cost airline FlyOne.

[2] The airline was created following a 60 million euro ($67.8 million) investment by Moldovan airline FlyOne.

The airline was granted its Air Operator's Certificate on 29 October 2021 and began operations on 18 December 2021 with a direct flight to Lyon.

In late 2021, Chairman of FlyOne, Vladimir Cebotari, said that the airline was negotiating the lease of three A321-200s in total, including the units assigned to the new Armenian carrier.

[3] As of December 2024, the FlyOne Armenia fleet includes the following aircraft:[11] Fly One Armenia started using the Gulfstream G450 Business Class Aircraft for special business flights.