The story
The airline was established in September 2002. In October 2003 Air New Zealand reached an understanding with Palau Micronesia Air committing to provide a range of support services for the new company, including operating its aircraft under the Air New Zealand air operators certificate. Operations started on 5 August 2004. It suspended operations on 23 December 2004, attributing it to high costs and under-performing sales.
From Wikipedia’s article on Palau Micronesia Air, shared under CC BY-SA 4.0.3