From what I have read, Indian Ocean Airlines was a short-lived Australian carrier. This Electra had been leased from JBQ Aviation and arrived in Perth on 14 August 1992. It was entered into the Australian register 9 September 1992 as VH-IOB. The airline intended to fly a Perth-Cocos Island-Christmas Island route with the aircraft, but it never entered service. It was registered N351Q again on 14 December 1992 and departed Perth back to the USA on 15 December 1992.