The airline was founded in 2008 by Yalcin Ayasli, a Turkish businessman living in the USA. Fatih Akol is Chairman of the Board. The company rented first a hangar at the Atatürk International Airport, Istanbul and then purchased three aircraft of type ATR 72-500, which were overhauled in Cologne, Germany before they were delivered in the beginning of 2010 in Turkey.
Borajet received its "Regional Airline Operations License" on 22 April 2010 and started operations on 7 May 2010 with its first flight from Istanbul to Tokat. In 2014 Borajet agreed a deal to lease five Embraer 190 aircraft (with options on a further three) from GE Capital Aviation Services.