Filiale d'Olympic Airways fondée en 1967 comme compagnie d'aviation légère. En 1971, Olympic Aviation fut établie comme compagnie distincte. En 2003 Olympic Airways, Olympic Aviation et Macedonian Airlines fusionnèrent pour former Olympic Airlines.

Began operations in 1967 as light avaition division of Olympic Airways and continued until Olympic Aviation was founded as a seperate company. In 2003, the operations of Olympic Aviation have been integrated, together with Olympic Airways and Macedonian Airlines into the new national flag carrier Olympic Airlines.