Villa entered the aviation industry in 1997 by establishing Trans Maldivian Airways (TMA). TMA is the oldest and, in many ways, the most experienced Air transfer operator in the Maldives. It pioneered the use of aircraft to transport tourists to island based resorts. In doing so, it has made a significant contribution to the development of tourism to the Maldives, which in turn has resulted in major benefits to the national economy. Founded in 1989, the company operated a strictly helicopter fleet of aircraft until Villa acquired the company in 1997and introduced its first seaplanes. The transition to a 'seaplane-only' fleet of aircraft was completed in January of 1999.

In 2009, Villa opted to sell its 50% stake in TMA in order to start its own airline. The new airline to be launched in 2010 will serve Villa Airport Maamigili and other domestic airports.