The company traces its roots to the Krasnoyarsk-based Yenisey air wing, established by the Chief Directorate of the Northern Sea Route in May, 1934.

[citation needed] In 2005 KrasAir attempted to expand internationally, placing a winning bid in Hungary's national carrier Malév privatisation tender.

On August 24, Prime Minister Vladimir Putin specifically addressed the problem of the grounded airline, authorizing Sergey Ivanov to issue state funds and enable further operations.

The same day, the Russian Ministry of Transportation negotiated with Aeroflot, Transaero, S7 Airlines and Rossiya about taking over the routes previously operated by Krasair.

[13] On October 27, Krasair was unable to fly most of their aircraft due to a pilots' strike as a refusal by refuelling companies to extend credit to the airline.