Prince Edward Air Ltd. was founded as an entrepreneurial venture in 1989 to pursue the market opportunities in scheduled passenger and cargo. The business quickly evolved into contract courier work, air medical evacuation and on-call air charters for business and pleasure. Prince Edward Air started with one leased aircraft and one pilot (the owner & president) - Robert M. Bateman.

Today… Prince Edward Air operates 20 aircraft and employs 120+ qualified individuals. With over 75 daily departures, Prince Edward Air flies into several large and small airports within Eastern Canada, Quebec, Ontario and the United States. To this day, the first aircraft and the first pilot are still operating within the company.

Prince Edward Air Ltd. is headquartered in Charlottetown, Prince Edward Island (Canada) with major bases in Moncton, New Brunswick; Halifax, Nova Scotia; St. John's, Newfoundland; Toronto and Hamilton, Ontario. The airline continues to offer a variety of services including: scheduled cargo, ad-hoc charter, air medevac, aircraft maintenance, sales and service.

On May 1, 2008 CargoJet Airways acquired 51% ownership of Prince Edward Air Ltd.