Olympic Airways was founded in 1957. The first OA flight was from Athens to Thessaloniki, with a DC-3 aircraft. By 1960 OA’s network covered all Greek airports of the period and major destinations in Western Europe, the Middle East and North Africa, with the USA, Canada and South Africa added in the next decade.

In 1971, Olympic Aviation was founded, with a fleet of small propeller-driven aircraft and helicopters. Its mission was to connect the country's smaller airfields, which could not be approached by large aircraft.

In 2003 Olympic Airways and Olympic Aviation were absorbed by Macedonian Airlines, which was renamed Olympic Airlines.

In October 2009 the company was rebranded as Olympic Air.

Olympic’s network now reaches 36 Greek domestic destinations and 19 international destinations throughout Europe and the Middle East. OA’s modern fleet consists of 41 airliners, from wide-bodied Airbus A340-300s to DASH-8-100s turboprops.