Based in Moscow's Domodedovo airport, the company intends to revolutionize the Russian air transport sector with low-cost flights on modern and comfortable aircraft.
Sky Express announced its arrival on the internal Russian market in late 2006, when the European Bank for Reconstruction and Development (EBRD) bought a 20% stake in the company for $10 million.
The average no-frills ticket price of 500 rubles ($19) includes only the cost of transportation, but passengers will be able to opt for extra services such as meals for a surcharge.
The flight discounter said operations would at first cover primarily the European and southern parts of Russia, and has pledged that the average ticket price would be 40% lower than on other airlines.
The EBRD is planning to increase investment in the company, which is seeking to grab about a seven percent market share and boost it to 25% in the long term, to $20 million in the future.
Another key shareholder is Boris Abramovich, director general of Krasnoyarsk Airlines, Russia's third-largest carrier.
Sky Express plans to carry up to 3.5 million passengers by late 2008.
