Beginning in November 1993 with two aircraft, MAT grew in direct response to the opening of newly developed resorts that require seaplane transport services for their guests.

In 2013, The Blackstone Group, an American equity fund, announced that they were acquiring both MAT and rival company Trans Maldivian Airways (TMA).

[1] A merger was brought underway and a new company was founded, retaining the Trans Maldivian Airways name, and the colours of MAT.

TMA now operates 44 De Havilland Canada DHC-6 Twin Otters, including three brand new 400 series.

[2] At the time of the merger in December 2010, Maldivian Air Taxi's fleet included the following aircraft.