We present Aviation Cost Risk management (CRM) methodology designed for Airlines Company, who needs to run projects beyond their normal. These airlines are critical to the survival of these organizations, such as the development and performance. The Aviation crisis can have considerable impact upon the value of the firm. Risk managers must focus special attention to their prevention and risk neutralization. Recently, demonstrated that large losses can have a very negative impact on shareholder wealth in an efficient stock market. This crisis shows that on the day that a loss occurred, returns of a negative. The goal of cost risk management (CRM) is to maximize shareholder wealth and protected airlines company, since it has been recently demonstrated that shareholder wealth can be negatively impacted by losses, risk management must be viewed in its relationship to the overall wealth of the company. The loss exposures become a critical financial management function, mostly in firms with considerable exposures to such losses.