Ukraine International Airlines sold to Cyprus company

 Cyprus-based Ontobet Promotions Limited is an owner of Kyiv-based Ukraine International Airlines (UIA).

According to the State Commission for Securities and the Stock Market, Ontobet Promotions Limited as of the end of the third quarter of 2012 owned a 25.83% stake in the airlines, while 74.16% of UIA's shares were held by Kyiv-based Capital Investment Project LLC belonging to Investment Projects Management LLC whose owner is Ontobet Promotions Limited (since June 2012).

The commission said that by the end of the second quarter, Capital Investment Project owned 51.64% of UIA's shares, 15.91% belonged to Austrian-based UIA holding company with limited liability, while 22.51% of shares were held by Austrian-based U-I-A Holding GmbH.

As was reported, UIA has recently refuted reports in the press that the Privat Group or its affiliated structures have become shareholder in the airlines.

"The mass media recently spread rumors about alleged changes in the structure of UIA's shareholders, triggered by the continued deepening of cooperation between the UIA and AeroSvit," reads a press release from UIA.

Due to this, UIA states that such information is untrue, and notes that UIA retains its former structure of shareholders, which has existed since the completion of the company privatization in 2011, as well as a stable management and supervisory council staff.

CJSC Ukraine International Airlines was founded in 1992. Its fleet consists of 19 medium-ranged Boeing 737.

The airlines operates flights to 40 capitals and cities of Europe, Asia, Africa, and the CIS. It also services connecting flights with routes of its international partners in more than 3,000 cities around the globe.

UIA carries out about 700 international and domestic flights per week. Its main airport is Kyiv's Boryspil International Airport.