To build and improve the trunk and feeder airline network is a necessary requirement and development trend for the construction of modern civil aviation transportation system, while an ideal airline cooperative revenue allocation scheme is a prerequisite for promoting airline trunk and feeder combined transportation. Based on China’s current development situation and market characteristics of regional airline, the revenue functions under cooperative and non-cooperative situations were constructed for two airlines operating mainline and regional flights respectively. Then the "Golmud-Xining-Chengdu" interline was used as an empirical case for calculation and analysis. The results show that by proposing an improved profit-sharing scheme based on the Shapley value method the final revenue allocation of two airlines has increased compared with that before the cooperation, respectively. Compared with the initial revenue allocation scheme, the improved allocation scheme takes into account of other important factors affecting the revenue allocation in addition to the marginal contribution, and the allocation results can be optimized by adjusting their weights. The sensitivity analysis using efficiency reduction verifies that the optimized revenue allocation model is fairer and more reasonable, providing a more stable solution to the problem of revenue allocation of airline trunk and feeder combined transport.