Saratov Airlines will now continues its operations and resume ticket sales on domestic routes, it announced in a statement.
The airline will also reduce its international charter flights by 50% during June 2018.
Russia's Federal Air Transport Agency (FATA) will consider the application of Saratov Airlines to remove restrictions on its air operator certificate (AOC) by 27 May 2018.
The resumption announcement comes less than one day after Saratov Airlines announced it would suspend operations on 31 May 2018 after receiving a notice from FATA directing the airline to suspend ticket sales.