Ukraine International Airlines says no change in ownership

Monday, 31 December 2012 00:00 - - {{hitsCtrl.values.hits}}

Ukraine International Airlines states there’s no substance behind the information PRIVAT Group or its affiliate structures became UIA shareholders that has recently appeared in the press.

Recently, the media actively spread rumors about the changes that have supposedly occurred in the structure of shareholders of the airline, triggered by the continuing deepening of cooperation between Ukraine International Airlines (UIA) and AeroSvit Airlines.

Therefore UIA states such information is in contrary to facts. Existing since the completion of the privatization of the airline in 2011, UIA shareholder structure, as well as sustainable management and Supervisory Board structure remains unchanged.

“Commenced in December 2011 broadening of cooperation between UIA and AeroSvit is the result of the awareness of irrationality and futility to continue with the opposition of both airlines having led to our market position weakening and direct threat of further operations,” noted Yuri Miroshnikov, UIA President.

“Fundamental analysis of subsequences of the industry crisis having caused stagnation of passenger traffic, as well as awareness of the high risk associated with further unconstructive competition forced the companies to search for new opportunities to improve transport efficiency, to attract new passenger flows, and to develop transit potential of Ukraine. We have overcome the negative emotional component of multi-year confrontation between the two carriers. Regarding current external threats we have arrived at the only right decision to consolidate our resource.”

Cooperation under the terms and conditions of the code-sharing agreement – joint direct and transit transportation – allowed UIA and AeroSvit to significantly expand the route map, to offer passengers optimised service through facilitated check-in for the entire combined route, and to operate the fleet of each carrier efficiently. Currently, UIA and AeroSvit are engaged in forming a network of code-share flights to be operated in summer 2013, and developing long-term cooperation plans.

Ukraine International Airlines was founded in 1992. UIA is a privately owned carrier. UIA’s fleet consists of 19 medium haul Boeing 737 aircraft. The airline connects Ukraine with over 40 capitals and key cities of Europe, Asia, Africa, and CIS providing connections with its international partners’ flights to more than 3,000 other destinations worldwide. UIA operates over 700 international and domestic flights per week. The base airport for UIA is Kiev Boryspil (KBP).