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The newly created subsidiary is called LLC Budget Carrier

The budget for year will allocate more than RUB 8.7 billion (USD 229 million) for subsidizing flights

The sanctions restrict the UAC’s ability to borrow funds on foreign capital markets, but this will have no significant impact on the UAC or VASO.

The fall in the purchasing power of Ukrainians and their wait-and-see attitude to air travel have sent the industry into a steep nosedive. The passenger traffic of domestic airlines fell by 15% in the first eight months of this year, and such a figure will mean more than a million fewer tickets at the end of the year.