The airline was established in 2003 by Tariq Chaudhary, a Pakistani-American IT professional. Airblue started operations on 18 June 2004 with three leased Airbus A320-200 aircraft serving Karachi–Lahore, and Karachi–Islamabad with three daily flights in each direction.

Airblue is a private Pakistani airline that is majority-owned by Mr. Tariq Chaudhary, who also serves as the company's CEO and Chairman of the Board. He leads a group of private investors who maintain a significant stake in the carrier. While Mr. Chaudhary is the primary majority owner, the airline is famously associated with its founder, Shahid Khaqan Abbasi, a prominent Pakistani politician and former Prime Minister. Abbasi founded the airline in 2003 and served as its CEO for many years, helping it grow into Pakistan's second-largest airline. However, the current shareholding structure is primarily concentrated under Tariq Chaudhary's leadership. The company is headquartered in Islamabad and operates a modern fleet of Airbus A320 and A321neo aircraft, focusing on domestic routes and international connections to the Middle East.