Trans Mediterranean Airways (TMA) was the first all-cargo carrier to establish round the world services in both directions.

In November 1996, following the Lebanese "Horizon 2000" reconstruction plan, investment banker Fadi Saab was appointed Chairman and President and the airline took measures to modernise its operations, restructure activities and increase capital to around $40 million.

[3] In 2002, TMA leased an Airbus A310-304F from Islandsflug during April to November,[4] to operate their European routes as the Boeing 707's had been banned from Europe.

[5] TMA ceased all flights in February 2004 when the Lebanese Civil Aviation Authority (LCAA) pulled its Air Operating Certificate (AOC) citing safety concerns over its aging Boeing 707 fleet.

In 2008, Mazen Bsat, Lebanese investor, owner and CEO of Med Airways (formally Flying Carpet), bought TMA for $1 in exchange of clearing the airlines $60 million debt.

As well as the 14 scheduled destinations, TMA Cargo also introduced charter flights on special request to various countries throughout Europe.