Ukraine International Airlines has failed to obtain a stabilization loan of USD 100 million from the government for financing its operations through the current crisis, the CFTS correspondent reports.
The head of UIA’s supervisory board, Aron Mayberg, told a press conference on Thursday that the carrier sent a letter not only to the government, but also to its shareholders, who provided financial assistance in an amount that is sufficient to "comfortably implement" a new model of development in 2015. This assistance was provided in the form of loans.
"We had little confidence in obtaining a loan from the government. Our goal was to attract the attention of the authorities to the problems of the transport sector," said Mayberg.
He added that if the company had obtained a government loan, it would have tried to save its current model, which provides for implementation of a number of large infrastructure projects, including development of its own aircraft maintenance center. According to him, this would have required investments initially but later allowed the company itself to control the quality of its services and provide these services to third parties. According to Mayberg, UIA will now focus on its core business, i.e. transportation, and buy all other types of services.
