The company began operations in 1993, using a fleet composed only of Boeing 747 planes, with an initial route from JFK International Airport in New York to Shannon, Ireland. It later expanded to include many other world wide cities and in 2001 started services to Sweden.
Atlas Air, another of the world's leading cargo airlines, purchased Polar Air Cargo in 2001 for the sum of $84 million dollars. Both airlines continue to operate under their own names.
Polar Air Cargo is based in Long Beach, California.
Polar is also very active in the model airplane world, their models being produced and sold by many important plane model companies, such as Wooster and Schabak.