Wizz Air, a Hungarian low-cost airline, has announced that it plans to resume the operation of its Wizz Air Ukraine subsidiary.

This was discussed during a meeting between the airline’s CEO József Váradi with President of Ukraine Petro Poroshenko and Infrastructure Minister Volodymyr Omelian on Wednesday, November 21, the CFTS portal reports.

"We intend to resume the operation of Wizz Air Ukraine as a Ukrainian carrier. I am confident that Wizz Air Ukraine will be able to provide high-quality services to Ukrainian passengers at low prices. We are ready for competition, we are ready to station much more aircraft in Ukraine than we currently do, and we are ready to base them in Ukraine," Váradi said.

According to Wizz Air, the company intends to increase its fleet in Ukraine to 20 new aircraft Airbus A320 and Airbus A321 aircraft, which will be delivered to the airline’s bases in Kyiv and other regions of Ukraine. The low-cost airline aims to transport up to 6 million passengers per year in Ukraine by the year 2025.

Poroshenko said that the Ukrainian market was promising, particularly the market of domestic flights.

According to the company, such a move would create 6,000 jobs in Ukraine. Wizz Air’s investments in Ukraine will amount to USD 2.5 billion by 2025.

As reported, Wizz Air Ukraine ceased operations in April 2015. This decision to cease operation was made because of the crisis in eastern Ukraine, as well as the devaluation and instability of the hryvnia national currency.

According to Váradi, the investment climate in Ukraine has improved significantly. Wizz Air stated in 2017 that it had not plans to resume the operation of its Ukrainian subsidiary.