The Ukrainian Cabinet of Ministers decided at its meeting on May 6 to significantly reduce the proportion of profits that the state-owned Boryspil and Lviv airports are required to pay as dividend to the state from 90% to 30%.

This was announced by Minister of Infrastructure Vladyslav Kryklyi, the CFTS portal reports.

"The proportion of net profits that the Boryspil and Lviv airports are required to transfer into the state budget has been reduced to 30%. Previously, they were required to transfer 90% of their profits," the minister said.

As reported earlier, the Boryspil airport’s General Director Pavlo Riabikin recently said that one of the options for supporting the Ukrainian aviation industry during the coronavirus crisis was reduction of the proportion of net profit that specialized state enterprises are required to pay as dividends to 30% for at least five years. Even before the suspension of regular flights, the Boryspil airport’s administration said the airport had been forced to postpone the implementation of some infrastructure projects because of the increase of its dividend rate.

The minister of infrastructure stated several times in April that it was necessary to review the dividend policy in relation to state-owned companies in the transport industry with the aim of supporting them during the crisis.

As reported, a 90% dividend rate was also set for the Ukrainian Seaports Authority (USPA) last year. USPA officials have told the CFTS portal that no decision has been made on reduction of the dividend rate for this state-owned company.