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UIA Disproves Information on the Airline’s Change of Ownership

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

Recently, the media actively spread rumors about the changes that have supposedly occurred in the structure of shareholders of the airline, triggered by the ongoing 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, the UIA shareholder structure, as well as sustainable management and Supervisory Board structure remain 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 Ukraine’s transit potential. We have overcome the negative emotional component of a confrontation of many years between the two carriers. Regarding current external threats we have reached the only right decision to consolidate our resources”.

Cooperation under the terms and conditions of the code-sharing agreement – joint direct and transit transportation – allowed UIA and AeroSvit to significantly expand our route map, to offer passengers an optimized service through a simplified 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, as well as developing long-term cooperation plans.

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