[4] The airline was established in 1989 by Aer Lingus, Belton Air and Banco Santander, starting operations on 17 February 1990 with a flight from Palma de Mallorca to Manchester.

On 16 October 2007, Corpfin Capital and Aer Lingus sold their stakes, during the process of a secondary buyout instigated by the present management team, making way for the participation of the investment fund Hutton Collins, so that the resulting shareholdings were as follows: the Futura Group (management and employees) had 53.5% and Hutton Collins owned 46.5%.

It wholly owned cargo subsidiary Flyant (officially Servicios Aéreos Integrales S.A.) and Dublin-based Irish charter airline Futura Gael.

Flyant (passenger carrier) took over some Futura operations, wet leasing a Boeing 737-300 and a 737-400 to Air Algerie, both aircraft and crew were based in Algiers.

Flyant, which also ceased operations initially alongside parent Futura, later continued in the cargo business, having been sold for the symbolic amount of one Euro, to New Iberital, a Catalan logistics group, which later renamed it Saicus Air.