The airline was founded on January 21, 2002, with a fleet of 3 Cessna 208B Grand Caravan and serving 12 cities in the state of Pará.

[1] The new share-holders composition was approved by ANAC in January 2010: 80% of the shares belong to the Brazilian company Ipiranga Obras Públicas e Privadas and to Gleison Gamboni e Souza, and 20% of the shares belong to the Angolan company Angola Air Services.

Puma Air restarted its operations on April 12, 2010, with flights from Belém to Macapá and São Paulo,[2] after being grounded between January and March 2010.

[4] On August 23, 2010, the National Civil Aviation Agency of Brazil (ANAC) designated Puma Air to operate 4 weekly flights on the route.

After being grounded since August 16, 2011, the airline lost its operational license on July 23, 2013.