The airline was established and started operations on October 31, 2001. It is wholly owned by Air Canada. Robert Perrault who once was the President of Air Alliance, was in charge of Jetz since it was created in 2001. It is now headed by Alain Boudreau.
During the 2004, 2006 and 2008 Federal elections, NDP Leader Jack Layton's tour was carried by Jetz.
On March 31, 2014, the Ottawa Citizen reported that Air Canada "has made a decision to exit this segment of the market." However, service has not been terminated, and on March 17, 2015, Air Canada Jetz announced a 6-year contract with several NHL teams starting from the 2015-2016 season.