The company was a private venture co-founded by Peter V. Garrambone and Tony DeCamillis, which was partly funded by Lou Pearlman. Upon Garrambone's resignation Tony DeCamillis became President & CEO. The airline began in 1995 when it incorporated as "Planet Airways, Inc.," a startup airline seeking FAA Part 121 certification. It acquired its first plane in 1998, was granted FAA Part 121 approval to fly charter services, and obtained FAA certification in 2000. Planet operated a fleet of 6 Boeing 727 jet aircraft for customers including the United States Marshals Service, the United States Forest Service, and the United States Department of Defense.[https://web.archive.org/web/20070422013657/http://www.hqda.army.mil/ogc/2004contractors_revised.pdf][http://www.dod.mil/dodgc/defense_ethics/resource_library/FY05_Contractors.pdf] In the fiscal year 2004, Planet Airways received nearly 10% of the total revenues awarded by the Department of Defense to all qualified US carriers for domestic charters.