The project aims to unite Krasnoyarsk, Domodedovo, Samara, Omskavia and Sibaviatrans airlines into a single company called AirUnion.
"The model that AirUnion has proposed today - to unite state and private share portfolios into a single air company - will form a large air carrier [company] and will stimulate the development of competitiveness on the Russian air carriers market," said Kirill Androsov, a deputy economic development and trade minister.
Androsov said a proposal from Russian national carrier Aeroflot to include state share portfolios from regional airlines in its authorized capital should also be considered.
"If we support this proposal it will enlarge Aeroflot but is unlikely to contribute to the development of competitiveness," he said.
Androsov said that a large air carrier company was essential to open an international transit hub in the East Siberian city of Krasnoyarsk, and added that the ministry was waiting for AirUnion to submit a proper application as the project could be financed from the Investment Fund.
