Two Boeing 737-400 were delivered to the airline in January 2004. However, due to problems with the licencing and acquiring rights, revenue flights could not be launched. On December 24, 2005 the airline was granted rights to fly in Pakistan by the Civil Aviation Authority (CAA) of Pakistan.
In 2009, Capt. Talib Ali bought the airline and began a restructuring campaign to raise the failed project. Through his efforts, in January 2012, the CAA once again entitled Pearl Airlines to start operations within Pakistan. However, due to lack of funds the aircraft could not be acquired. This led to further delays and as of 2013, Pearl Air is considered to be a work in progress.