The story
The company was founded by Dan Wiesel and Alysa Binder, who got the idea when planning a trip with their dog. The launch of the company was funded by a group of investors.
Operations continued from 2009 to 2011 when operations ceased. By the time operations ceased, over 9,000 pets had been flown.
In February 2012, The New York Times reported that Pet Airways had run into financial problems. In a regulatory filing that month, the company said, "We have experienced a history of losses and have yet to begin generating positive cash flows from operations and, as a result, our auditors have raised substantial doubt about our ability to continue as a going concern." In 2011, the airline permanently ceased operations.
From Wikipedia’s article on Pet Airways, shared under CC BY-SA 4.0.4