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Ministry of infrastructure of Ukraine Ukrainian State Air Traffic Services EnterpriseSafety. Efficiency. Responsibility |
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| News |
| 27th September 2021 |
| UkSATSE cuts losses by more than 3 times in the first half of the year |
Due to effective anti-crisis measures aimed at stabilisation of the state enterprise's financial position, UkSATSE managed to improve its financial result in terms of reduction of its financial loss by almost UAH 621,300,000 in the first half of 2021 compared to the same period of the previous year. During the first six months of the current year, the enterprise's loss has fallen to 260,500,000 hryvnias, which is three times better than last year's figure.
As is well known, the company's main revenue stream is air user charges for air navigation services, which account for 99% of all revenues and are directly dependent on the volume of flights over the country's skies. Comparing the number of flights in the first half of 2019 - 149,150 flights, six months of 2020 - 64,999 flights and the current figure, which is 82,520 flights, we record a drop in air traffic in the sky over Ukraine of almost 45% compared to the pre-pandemic period.
According to the financial result for the first half of the year, the trend correlates with a decline in the number of flights caused by objective factors, most notably the restrictive measures imposed by various governments because of the pandemic.
As part of UkSATSE's anti-crisis measures, in order to restore almost 100 per cent charging for its services, some airlines have been asked to undertake settlements on a weekly basis. In addition, the enterprise continues to operate on a part-time basis for employees and minimises all costs other than operating expenses.
It should be reminded that last year UkSATSE was the first enterprise in the country to acquire the EBRD loan for financial stabilisation and liquidity support in record time, which enabled uninterrupted operation of the enterprise amid unprecedented crisis in aviation industry.
ICAO experts estimate that all aviation market players in the world suffered revenue losses in 2020 - 2021 compared to 2019, in particular, air navigation services providers - lost 13 billion USD, airports - 115 billion USD.
In addition, the vast majority of aviation companies around Europe and around the world reported negative financial results for the first three months of the year, due to seasonally low flight activity during the winter navigation period and the industry's slow recovery during the spring months of the year.
Despite the slow recovery of flight activity and its impact on the financial condition of UkSATSE, the enterprise ensured full provision of services to air traffic users.
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| Source: UkSATSE |
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Airport, Boryspil, Kyiv region, Ukraine, 08300, phone: (+38044) 235-21-10, fax: (+38044) 281-84-84
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