Swissport International exrpesses concern over the litigation with Ukraine International Airlines regarding the joint venture Swissport Ukraine, now Interavia.
"The court appeal hearings at the Supreme Economic Court keep being postponed, for the seventh time based on dubious reasons lastly on Friday, 30. August. In the meantime UIA (Ukrainian International Airlines) took unilaterally the decision to increase the share capital in Interavia with the obvious goal to dilute Swissport. By doing so UIA did now for what it sued Swissport, when UIA falsely alleged Swissport of a dilution attempt. The Ukrainian Government and Anti-Raider-Commission are long in coming with their promised support for foreign investors and companies that lost their business through hostile takeovers", Swissport reported in its press release.
According to the information, the next hearings is scheduled for September 18. And the company forecasts that the decision will be against Swissport.
"Swissport is very concerned about the inaction and silence from the Ukrainian Government that seems to remain passive in this obvious violation of foreign investment. This is even more surprising for a country that is currently negotiating a free-trade-agreement with the EU and has a strong interest in getting in closer contact with the EU and its membership states. With the experiences Swissport has made so far with investing into business in the Ukraine, other foreign companies that are considering to enter this market can only be warned to better keep hands off", Swissport said.
