The airline was established in 2002 and started operations on 15 May 2002. It was set up by Mario Hidalgo, who previously ran Air Europe Express, and is now the General Director of Hola Airlines and is owned by Gadair European Airlines in a 51%. It had 35 employees (at February 2009). It has ceased operations on 15 February 2010 .
The Hola Airlines fleet consisted of the following aircraft (at 15 December 2009):
At 21 September 2009, the average age of the Hola Airlines fleet was 20.6 years.