The idea of forming CONVIASA as the Venezuelan Flag Airline began to take shape in May 2001, in order to dynamically channel the incorporation of the population to the development of the Bolivarian Republic of Venezuela; thus contributing to the growth of the economy and sustainable tourism, through the exploitation of the national and international air transport service for passengers, cargo and mail. In December 2002 this project was stopped. It is retaken on October 1, 2003, under the tutelage of the defunct Ministry of Production and Commerce.

On March 30, 2004, CONVIASA was created, through Decree No. 2,866, signed by the President of the Bolivarian Republic of Venezuela, Hugo Chávez Frías, published in Official Gazette No. 37,910, on March 31 of that same year. The Venezuelan Consortium of Aeronautical Industries and Air Services (CONVIASA), made the first flight with the aircraft model DASH-7, Venezuelan acronym YV-1169, on November 28, 2004, from the Caracas Airport "Óscar Machado Zuloaga" heading to the Santiago Mariño Caribbean International Airport, in Porlamar, Nueva Esparta state, being certified as a commercial airline, then taking off to the Island of Grenada. On December 10, 2004, the Venezuelan Flag Airline formally began its operations of national and international flights.

On June 22, 2018 through Decree No. 3,483, published in the Extraordinary Official Gazette No. 6,385, the Presidency of CONVIASA, Cnel. Ramón Celestino Velásquez Araguayán. The social airline at the service of the Venezuelan people: CONVIASA is part of the entities attached to the Ministry of Popular Power for Transportation. The Venezuelan Flag Airline is committed to the Venezuelan people, contributing to the economic growth of Venezuela, increasing sources of employment and promoting the development of inbound tourism.