Ryanair announces $3 billion investment plan for Ukraine

20.07.2023, 17:11
Ryanair announces $3 billion investment plan for Ukraine - Photo
Photo: Ministry of Infrastructure

Ryanair, Europe's largest low-cost airline, plans to invest $3 billion to help revive Ukraine's battered aviation industry, reports its press service following a meeting with the Ministry of Infrastructure team.

The investment plan includes basing up to 30 new Boeing 737 MAX aircraft worth more than $3 billion at three main airports in Ukraine.

According to Minister Oleksandr Kubrakov, maintaining the suitability of the aviation infrastructure and the qualifications of the personnel remains key for Ukraine in the conditions of war. At the same time, the resumption of flights will be possible as soon as the security situation allows.

"However, we are already working on solutions and investment plans that will allow us to launch flights quickly. I am grateful for the leadership in the recovery of our aviation industry, the specific proposals and decisions of the Ryanair company," Kubrakov said.

The plan also provides for the return of the airline to Ukraine at low fares within eight weeks after the restoration of the airspace. This will make it possible to perform 600 flights every week from the main airports of Ukraine.

"Ryanair was the second largest airline in Ukraine before the illegal Russian invasion in February 2022. Once this invasion is successfully repelled and the skies over Ukraine reopen, Ryanair will return to Ukraine, connecting Ukraine's main airports with more than 20 EU capitals, and we are working closely with the Ukrainian government to rebuild Ukrainian aviation, industry and economy," Ryanair Group Chief Executive Officer Michael O'Leary stressed.

In addition, Ryanair plans to open daily domestic flights between Kyiv, Lviv and Odesa as soon as these airports can serve them.

In total, during the first 12 months after the return, Ryanair is ready to offer more than 5 million seats to and from Ukraine and within the country.

A Ryanair delegation consisting of Ryanair Group CEO Michael O'Leary, Ryanair DAC CEO Eddie Wilson and Ryanair DAC Commercial Director Jason McGuinness arrived in Ukraine on July 20.

Negotiations between the Irish and Ukrainian sides took place at Boryspil Airport and concerned primarily the airline's strategic plan for the rapid resumption of air transport immediately after Ukraine's victory and EASA's confirmation of the safety of flights in Ukrainian skies.

In January 2023, Ryanair hired about 60 Ukrainian pilots and 80 crew members in anticipation of the opening of flights.

On April 11, 2023, Ukraerorukh reported that air flights in Ukraine will resume after the end of the war. Later, they clarified that Ukraine will not open its airspace until it is 100% safe .

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