The airline was established in 1967 as a
commuter airline operating small piston twin aircraft. In 1967, Altair's main shareholder was Tristram Colket and it had 587 employees. In May 1970, Altair Airlines was reported by the
Civil Aeronautics Board to have the highest
bumping rate. By the late 1970s, Altair had introduced
Nord 262 turboprops to its fleet in addition to
Beechcraft 99 commuter turboprops. Altair attempted to attain sustained profitability by retiring its turboprop aircraft and expanding its scheduled passenger services to new destinations along the U.S. east coast in tandem with the introduction of a small fleet of
Fokker F28 Fellowship and
McDonnell Douglas DC-9-30 twin jets; however, income was never able to outpace the debts incurred. In November 1982, Altair owed more than one million dollars in
jet fuel costs to
Gulf Oil Corporation who, after a protracted period of negotiating, demanded immediate payment. Altair had little choice but to seek legal protection. In 1982, Altair filed for
bankruptcy due to its many debts. Its last president was Henry P. Hill. Many of Altair's dedicated employees found employment at other airlines with facilities at
Philadelphia International Airport (PHL). ==Fleet==