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Formed 3/06 by Boris and Alexander Abramovich, owners of KrasAir. Planned to become first low-cost Russian carrier in association with AiRUnion alliance. 20% purchased in 12/06 by EBRD (European Bank for Reconstruction and Development). Started services 29/1/07. Under negociations with Virgin Group in 1/08 for take-over (tentatively to be named Virgin Russia), cancelled. Ceased operations on 26/10/11 and AOC revoked on 31/10/11 with operations taken over by Kuban Airlines.
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