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You're reading: 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

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.

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