The main objective of the airline is to ensure the air transport of a particular route with minimal materials, energy and time losses without harming passangers and the environment, preserving transport objects (in terms of quality and quantity) and preventing damage to technical assets or loss of aircraft, including infrastructure and other property involved in the carriage process. In order to achieve this, it is first and foremost to ensure a high level of flight safety in the airline. As of 2013, ICAO requirements for the introduction of a flight safety system in civil aviation entered into force based on risk analysis, risk assessment and implementation of measures to reduce them to an acceptable level and to control them. However, so far there has been no unified approach to managing the security risks of the airline, and the guidance in ICAO documents is not sufficient to create an effective flight safety system. Thus, each airline is looking for its own way of solving the problem by developing its methodology and its means of implementation based on the recommendations of the International and European Aviation Safety Organization (EASA), as well as using other companies or aviation industry practices in the world. Risk management in the field of civil aviation safety is a relatively new direction. A major study in this area was carried out at the beginning of this century. It is quite difficult to use the risk management experience accumulated in other areas of activity, as the civil aviation industry has important features that are different from other industries. In this work, the author analyzes various solutions to this problem and offers his approaches to flight safety. At the same time, an analysis of the airline’s operational risk factors is carried out, which is traditionally divided into three categories: environmental factors; technical factors; human factors. The study will add a fourth category – a group of economic factors. It includes factors such as quantitative air traffic performance, the airline’s financial situation, infrastructure costs of the airline and fleet, salaries of different categories of employees, etc. All of these factors are part of a risk-based airline safety system.