Established some time in the 1970s, the 165th Fighter Bomber Squadron 'Pegasus' would earn the coveted title of 'Guards' shortly before the outbreak of the Belkan War when in 1989, following years of ethnic conflict in the border oblast with neighboring Verusea, the Yuktobanian Army deployed its military to suppress local insurgent forces in "Oprichinia" operations. Following their successful campaign, the Pegasus would redeploy in 1994 as the first Yuktobanian Vanguard to Ustio, serving with distinction notably supporting Osean forces in Belka.
In 2010, during the Circum-Pacific War, the Pegasus would live up to their title, Now operating under the 5th Air Army, they would fly daring bombing raids against Osean Landings in Yuktobania, before retreating to Cinigrad later in the war. The Pegasus would see limited action in years following, notably during the 2016 Anean Conflict escorting Yuktobanian shipping through the Razgriz Strait from both Emmerian and Estovakian forces.
