UIA HAS SUMMED UP THE FINANCIAL RESULTS OF THE FIRST HALF OF 2021
04.08.2021: Ukraine International Airlines (UIA) announces a positive financial result for 6 months of 2021. Thus, in the first half of 2021, UIA's net profit amounted to UAH 21.7 million. At the same time, EBITDA (Earnings before interest, taxes, depreciation and amortization) was recorded at UAH 1.1 billion.
The emergence of positive financial dynamics was made possible by a balanced policy of UIA management to optimize costs and adapt business to long-term air traffic restrictions due to the impact of the Covid-19 pandemic in 2020-2021.
In particular, an anti-crisis program was implemented to restructure costs, optimize staff and minimize airline costs. This has reduced UIA's mandatory monthly operating costs by almost three times.
Also in the conditions of limited flights after the spring lockdown in 2020, the company's work will be focused on flexible and short-term planning of the route network, taking into account frequent situational changes in the rules of entry by foreign countries during 2020-2021.
The airline continues to closely monitor the development of the epidemiological situation and the rules of border crossing in each country to which it operates. In addition, UIA reminds of its readiness for further resumption of flights, taking into account the positive epidemiological indicators and subject to obtaining permits to operate flights.
UIA strongly advises to monitor the rules of border crossing and carefully read the information on the epidemiological restrictions of a destination country.