Heliflyg was formed out of Heli AB in 1988. It was established as Heli AB acquired the large helicopter operator Sterner Aero in July the same year. This deal was the most extensive fusion in the Swedish helicopter business this far, and it united at least 8 different companies through Sterner's and Heli's recent incorporations. It involved Fjällflyg i Kiruna, Heliflyg Nordic, Scandinavian Heliservice and Turistflyg i Arjeplog through Heli AB, and the Sterner companies Jämtlands Aero (1) and Östersunds Helikopter. The main base was located at the airport in Borlänge. It had a large maintenance department and employed its own aviation engineers. The second largest base was located at Göviken Heliport in Östersund, which was a heritage from Jämtlands Aero. Heliflyg had operations throughout all parts of Sweden, and it was involved in the development of a lot of new technology and ground breaking activities. The company was the first civil operator to maintain an EMS helicopter activity in Stockholm (1993-1996), the capital of Sweden. The base was reported to have the most number of emergency calls in Europe in 1994! The company did also operate the EMS helicopter in Östersund (1994-2001) and Lycksele (1992-1995). As the time went by Heliflyg closed some of its field bases and focused in its core business in Borlänge and Östersund. The closed field bases blossomed as new companies, like Heli i Arjeplog and Polarhelikopter. Heliflyg was acquired by Osterman Helicopter in June 2000, and the company was merged into Osterman’s structure. The former main base in Borlänge was closed. The large hangar came to be used by the maintenance shop Scandinavian Airtech. The newly established company Berguven Aero (2001-2004) explored the demand for regional helicopter operations for a few years.