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UIA posts almost UAH 1.1 bln of net profit in Jan-Sept
KYIV. Oct 29 (Interfax-Ukraine) – Ukraine International Airlines (UIA) received UAH 1.088 billion in net profit in January-September 2021 versus a net loss of 4.233 billion for the same period in 2020.
According to the company’s financial report in the information disclosure system of the National Securities and Stock Market Commission, its net income for the specified period amounted to UAH 7.322 billion, which is 22% more than in January-September 2020 (UAH 6 billion).
The operating profit of the company for the specified reporting period amounted to UAH 807.8 million versus UAH 1.732 billion of a loss a year earlier, and the gross profit was UAH 937.6 million versus UAH 292.8 million of a loss for the same period in 2020.
Speaking about the reasons for the growth in profits, the airline told Interfax-Ukraine that the third quarter is a high season for air transportation and its financial indicators are always higher compared to other quarters. In addition, the summer of 2021 was a period of significant increase in passenger air traffic compared to 2020, which was facilitated by both the pace of vaccination and the easing of quarantine requirements for tourists in different countries.
"In addition to a significant seasonal factor, a number of other factors had a decisive influence on the positive effect of the third quarter. Among them, the strengthening of the hryvnia versus the U.S. dollar in the specified period (the NBU hryvnia exchange rate in the U.S. dollar in the third quarter strengthened from UAH 27.18/$1 at the beginning of the quarter to UAH 26.58/$1 at the end of the quarter), as well as restructuring of UIA’s debts to counterparties," UIA added.
