The accident claimed the life of one pilot. The other two pilots involved in the collision were able to parachute back to safety.
As the jets crashed into the houses located near the airfield after the collision, at least five people were injured on ground. According to media reports, one woman sustained serious burns.
Air force spokesman Lt Col Vladimir Drik told the media that the accident took place near Zhukhovsky airfield, east of Moscow. They were rehearsing for the MAKS air show that is scheduled to begin on Tuesday, Aug 18.
The pilots involved in the accident were members of the Russian Knights aerobatic team. The pilot who died in the mishap is identified to be 45-year-old Russian Knights' commander, Igor Tkachenko.