The airline is on the List of air carriers banned in the European Union.
Zambezi Airlines began operations in July 2008. The airline first operated an Embraer 120. In May 2009, Air Zambezi acquired two Boeing 737-500. In June 2009, operations to Johannesburg, South Africa and Dar es Salaam, Tanzania commenced.
On 30 June 2009 the airline was authorized by the Zambia Competition Commission to form an alliance with Proflight Commuter Services.
On February 23 2012 ZAMBEZI Airlines’ aircraft have been repossessed by the owners, General Electric Commercial Aviation Services (GECAS) for failing to pay arrears amounting to over US$2 million. The three planes were hired from GECAS, an American company, when the airline started its operations and were repossessed on February 10, 2012. Two Zambezi Airlines planes were flown out from Kenneth Kaunda International Airport and are now parked at O.R. Tambo International Airport in Johannesburg, South Africa. The third aircraft was already in South Africa where it was taken last year for repairs.