2019-03-21T13:08:00+02:00 Economy 2023-05-15T08:07:47+03:00

Ukrainian news

Ukrainian news

UIA Ups Loss 8.9 Times To UAH 2.7 Billion In 2018

UIA Ups Loss 8.9 Times To UAH 2.7 Billion In 2018

In 2018, Ukraine’s largest airline, Ukraine International Airlines (UIA, Kyiv), according to preliminary data, increased loss 8.9 times to UAH 2.696 billion year over year.

This is stated in the agenda of the general meeting of shareholders, which will be held on April 24, Ukrainian News Agency reports.

According to the agenda, at a meeting of shareholders it is proposed to approve the company's loss for 2018 in the amount of UAH 2.696 billion.

Also, due to the lack of company profits for 2018 and for previous periods, it is proposed to pay fixed dividends on preferred shares in the amount of UAH 2,045,520.

As Ukrainian News Agency earlier reported, in 2018, UIA increased passenger flow by 15% to more than 8 million passengers year over year.

In 2017, UIA suffered loss of UAH 304.508 million, while net income increased by 24% or UAH 4.273 billion to UAH 22.103 billion year over year.

The airline operates more than 1,100 regular flights a week and connects Ukraine with more than 50 cities and key points in Europe, Asia, America, Africa, the Middle East and the CIS countries.

One of the ultimate beneficiaries of the company is the former co-owner of PrivatBank, a businessman Ihor Kolomoiskyi.