The airline was created when officials of the supplemental airline Overseas National Airways formed a FAR Part 129 leasing company known as United Air Carriers on July 21, 1977. When Overseas National Airways folded in 1978, the company was renamed Overseas National Airways and was certified in 1980 under FAR 121 as a cargo and passenger charter company.
In 1982 the company gained approval for scheduled service, leading to the company purchasing the name National Airlines from Pan Am in anticipation of scheduled New York to Paris service. The scheduled service never materialized, although flights on the route were flown as charters. The company faced financial problems and by December 1985 it ceased operations, filing for bankruptcy in May 1986. – Source