It has emerged that Ukreximbank has asked the Commercial Court of Kyiv to declare Ukraine International Airlines bankrupt.
The continued war in the country against Russia has caused a shutdown of their airspace, which has resulted in commercial operations being suspended for around 18 months up to now.
Without further ado, let’s get into it…
Kyiv: Ukraine International Airlines To Be Declared Bankrupt…
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Such a move represents a change in thinking towards whether Ukraine International Airlines was going to survive the war or not.
As per Ukrainian News, it looks as if the Commercial Court of Kyiv will accept this proposal to declare the airline bankrupt, following certain moves made last month.
It is understood that the sell off of the airline got underway last month, with there being buyers to the overall property of the carrier.
It is noted that all trademarks with the name and logo of Ukraine International Airlines, which were put up for auction, were bought by Okealos Company LLC, established on July 29, 2022.
Okealos Company LLC has also purchased ground handling companies based out of Kyiv as well, giving the initial thought that the UIA name would be here to stay.
However, in the recent revelations, the carrier looks set to become bankrupt, with assets expected to be sold off in Kyiv.
As per data from Planespotters.net, Ukraine International Airlines still has a fleet of 11 aircraft, with all but one based at Kyiv Boryspil Airport, with the other stored in Odessa. This is as follows:
- 3 Boeing 737-800s.
- 1 Boeing 737-900ER.
- 2 Boeing 767-300s.
- 4 Embraer E190s.
- 1 Embraer E195.
All but two aircraft in their fleet are leased, so these jets will no doubt be returned to lessors whenever it is safe to do so in due course.
Overall, this is unfortunate news, but as the Ukraine War continued, it forced carriers such as UIA to struggle and couldn’t adapt in time to the changes. All eyes will be on whether the carrier will be resurrected in a post-war era.
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