The airline began operations on August 25, 1995, with a Boeing 727-200 as a charter carrier linking Rio de Janeiro and São Paulo to holiday destinations in the northeast of Brazil.

Originally it was a direct competitor of Air Vias, another Brazilian airline dedicated to charter flights.

Eventually Fly became a carrier with both charter and scheduled low-cost operations.

[1] Though successful in its first years, it suffered a hard economic blow during the 1999 currency exchange devaluation crisis, and a great decrease in traffic, following a world trend, in the second semester of 2001.

The final blow came with increasing competition with Gol Airlines which led to the ceasing of operations in 2003.