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Malmo was founded in 1981 as air taxi, flight school and charter cargo operator. In the late 1980s it began operating cargo services on behalf of TNT, using F.27s and BAe 146s. Scheduled passenger flights began in 1991 with flights from Malmo to Hamburg and London, followed by service to Bromma, Goteburg, and Stockholm in 1992. In April 1993, the airline was acquired by Wiklund Inter Trade which resulted in the airline's rapid expansion. By 1998 it was operating 11 BAe 146s linking London City with Scandanavia.
In August 1998 Malmo was acquired by Braathens ASA, and the following year was merged with Braathens Sweden to become Braathens Malmo Aviation. In May 2001 it was announced that KLM and agreed to sell its holdings in Braathens to SAS. Braathens Malmo was spun off to a new company owned by Braganza AS, and its name reverted to Malmo Aviation.
In 2007 Braganza established Braathens Aviation as a holding company for its aviation interests. Braganza subsequently acquired Golden Air, which was rebranded Braathens Regional Airlines, and Sverigeflyg. In March 2016 the three airlines merged to form Braathens Regional Aviation. Its flights would operate under the BRA brand. Due to COVID the company ceased operations in April 2020.