The indie film does not have a director, yet, but has a producer in Darren Aronofsky, said The Hollywood Reporter.
The logline centres on a man, who loses his wife and daughter in a plane crash. The man blames the air traffic controller for the tragedy and seeks him out for revenge.
The project is not intended to be another straightforward action vehicle but to be more in line with 67-year-old Schwarzenegger's zombie drama, "Maggie", in which he starred as a father dealing with his daughter's transformation into a flesh-eater.