Air Mantra was founded in 2011 and by Indian conglomerate Religare Group (which had operated an air charter branch in 2006), in order to get a grip on the airline market in northern India. The initial growth plan saw the acquisition of ATR 72 and Bombardier Q400 aircraft.
Revenue flights were launched on 23 July 2012. The initial two daily flights between Chandigarh and Amritsar were operated using a fleet of two Beechcraft-1900 D aircraft. Eight months later, on 31 March 2013, all operations were suspended due to poor bookings, and the company was subsequently liquidated.