New economical and financial reality dictate new approaches to airline business development based upon significantly expanded international commercial cooperation, integration and merger of airlines around the globe.The year 2010 has demonstrated an apparent drift towards liberalization of the Russian segment of the international air transport. Many airlines, both in Russia and Europe, have received new commercial rights, additional frequencies and increased payload capacities. EU-Russian aviation dialogue has hopefully grinded, albeit very slow, from the halt. However, this improvement process by no means is systematic by its nature, or generally transparent, and often presented completely different ways by its participants. As years before, policy of restrictions and limitations governs bi-lateral ASAs, seriously aggravating difficult life of Russian and European airlines who were elbowing most of the last decade through permanent chain of crises.Key Issues of the ConferenceGlobal alliances in Russia and the EU: opportunities for Russian and foreign airlines Airlines Cooperation: Further Development Directions Outlook for EU-Russia Air Travel Development: Opportunities and Threats Russian and European Business Cooperation: Political and Economical Aspects. EU-Russian Air Transport Policy Overview and Outlook.