Ukraine International Airlines (UIA) estimates that its losses could reach USD 60 million this year, with the company's expenditures totaling about USD 14.5 million per month.
UIA’s President Yevhen Dykhne announced this in an interview with the Liga Business publication, the CFTS portal reports.
According to Dykhne, the company’s expenditures, including its expenditures on all the measures that are being implemented to optimize its operations, amount to about USD 14.5 million per month. “As you know, there are no revenues,” he added.
The UIA president noted that many governments have provided hundreds of millions of dollars in assistance to airline companies in their countries. "We are forced to cope on our own. We optimistically estimate the company’s losses at the end of the year at USD 60 million," Dykhne said.
According to Dykhne, UIA has a realistic assessment of the capabilities of the Ukrainian government, which does not have a stabilization fund for emergencies. “We have made the relevant appeals, but we understand that the assistance will not be the same as in other countries. What are we asking for? Provision of a stabilization loan by a state bank on favorable terms. However, there is so far no clarity from the government on this issue,” he said.
As the CFTS portal reported earlier, the IATA predicted a week ago that the industry’s losses would total USD 113 billion this year. An updated forecast puts this figure at USD 260 billion.