Transaero began as a charter airline with aircraft leased from Aeroflot. It was incorporated as a joint stock company on 28 December 1990 and was the first private company approved for scheduled passenger services in the Soviet Union. Its first charter service was Moscow to Tel Aviv on 5 November 1991. In July 1992, Transaero received its own Ilyushin Il-86. It became the first privately owned airline to operate scheduled flights in Russia when it launched its Moscow–Norilsk flight in January 1993 followed by Kiev, Sochi and Almaty later the same year. Its first international scheduled route from Moscow to Tel Aviv was inaugurated in November 1993.
In April 1993, Transaero started operating western-made aircraft when it received its first Boeing 737-200, followed by its first Boeing 757-200 in April 1994.
Transaero was also the first Russian airline with a frequent flyer program, which established in 1995. It was also the first Russian airline with an FAA aircraft maintenance certificate, which it obtained in 1997. In December 1998 a weekly service between Moscow and Gatwick Airport in London was started. Transaero operated its first Boeing 737-700 in 1998, followed by Boeing 767-200 and Boeing 737-300 in 2002 and Boeing 767-300 and Boeing 737-400 in 2003. An agreement was signed to purchase 10 Tupolev Tu-214-300 in the same year. In 2005, Transaero became the first Russian passenger airline to operate the Boeing 747 when it started services on 11 July 2005 with a leased, ex-Virgin Atlantic Airways Boeing 747-200 on scheduled services from Moscow to Tel Aviv. The aircraft would also operate summer charter flights to holiday destinations.
In May 2005, Transaero added a flight between Moscow and Montreal, marking the first time the airline flew to Canada. On 21 June 2006, Transaero also began operating nonstop flights between Moscow and Toronto. The service to Toronto was temporarily suspended in September 2008, but has since been restored, whereas the service to Montreal has been cancelled as of 2009.
In November 2007 the airline announced a new scheduled bi-weekly service between Moscow and Sydney, Australia via Hong Kong, commencing 24 December 2007. The flight was operated by Boeing 767-300 equipment. This route is now cancelled.
In October 2009 Austrian Airlines AG and Transaero Airlines have concluded a code-share agreement in Moscow on the routing Vienna to Moscow. Under the Agreement Austrian Airlines will put its code on Transaero’s daily Moscow-Vienna flight, while Transaero will put its code on one of the three daily Vienna-Moscow flights which are operated by Austrian. title