Business

There is a market for passenger air travel during wartime. Who are the leaders?

Despite the fact that the skies over Ukraine are closed, passenger air transport operators continue to operate. According to YouControl, almost fifty companies submitted financial statements for 2022. Ukraine International Airlines was among the market leaders until bankruptcy proceedings were initiated against it, according to

Obviously, passenger air transport operators had to reorient themselves to foreign markets to a greater extent, and some of them did not survive the hard times.

The leader in terms of revenue in 2022 is SkyUp Airlines, which is part of the financial and industrial Alba Family Group. The group’s beneficiaries include Alexander and Yuri Alba, co-owners of Join UP! and SkyUp. in 2022, the company closed with UAH 2 billion 756.8 million in revenue. At the same time, the company’s revenue for 3 quarters of 2023 exceeded the revenue for 12 months of 2022 – UAH 3 billion 233.8 million.

Ukrainian Helicopters Airlines took second place, earning UAH 2 billion 709.9 million in 2022 and UAH 2 billion 884.9 million in three quarters of 2023.

Ukraine International Airlines, an airline associated with the Privat Group and Ihor Kolomoisky, is in third place. However, it will not be in this ranking soon, as bankruptcy proceedings have already been initiated against the company. In 2022, the company managed to generate UAH 1 billion 755.9 million in revenue, but in the first 3 quarters of 2023, its revenue fell dramatically to UAH 5.3 million. The bankruptcy case was filed at the end of 2023.

In general, according to YouControl, the rating of the most successful passenger airlines in Ukraine looks like this:

Malaga Air earned the least among those who submitted financial statements for 2022 – UAH 1.5 thousand.