Business news from Ukraine

IRISH RYANAIR DOES NOT RULE OUT OPENING OF SUBSIDIARY IN UKRAINE

The Irish low cost air carrier Ryanair, which intends from October 2018 to launch flights to Kyiv and Lviv, does not rule out the opening of a subsidiary in Ukraine in future, but this should be preceded by the development of the network and the basing of planes here, Ryanair CEO Michael O’Leary has said at a press conference at Boryspil airport. “We have confidence that at least two large airports will be added in the next two years, and more routes from Kyiv and Lviv. The next big stage, which we have already discussed with the minister [Minister of Infrastructure of Ukraine Volodymyr Omelyan] is the possibility of opening bases in Ukraine. This can happen when we operate in three or four airports and have a certain number of routes. We expect that in Ukraine we will grow faster than in Poland,” he said.
The expert stressed that it is too premature to talk about the Ukrainian subsidiary, first 15 new routes should be launched and passenger traffic should start growing.
As reported, Ryanair in October 2018 will launch flights on ten directions from Kyiv and five from Lviv. Thus, the company will launch flights from Kyiv to Barcelona (four flights a week), Bratislava and Wroclaw (three), Warsaw (four), Krakow (three), Poznan and Gdansk (two each), Vilnius and Stockholm (three each) London (five), from Lviv to Krakow (three), Warsaw (three), Dusseldorf (three), Memmingen (two), and London (three).

EU COMMISSIONER FOR THE INTERNAL MARKET, INDUSTRY, ENTREPRENEURSHIP TO VISIT KYIV ON MARCH 27

European Commissioner for the Internal Market, Industry, Entrepreneurship and SMEs Elzbieta Bienkowska will visit Kyiv on Tuesday, March 27, to meet with representatives of Ukrainian authorities and business, the press service of the EU Delegation to Ukraine reported. Bienkowska intends to discuss with Ukrainian officials and business representatives the progress of reforms and the potential and priorities of the EU-Ukraine industrial and economic cooperation.
During the visit, the EU commissioner will meet with Ukrainian Prime Minister Volodymyr Groysman and First Deputy Prime Minister Stepan Kubiv, with whom she will open the 2nd EU-Ukraine High-Level Industrial and Regulatory Dialogue. The High-level Industrial and Regulatory Dialogue puts emphasis on cooperation between both partners, including automotive, textile, raw materials, technical barriers to trade and public procurement.

UKRAINIAN PRESIDENT WANTS TO PROPOSE CHANGES TO CONSTITUTION TO INCORPORATE EURO-ATLANTIC INTEGRATION STRATEGY

Ukrainian President Petro Poroshenko intends to initiate amendments to the Constitution in the near future to incorporate the country’s strategy for Euro-Atlantic integration. “In the near future, I intend to initiate changes to the Constitution in order to make this process irreversible, incorporating into the Constitution the strategic goal of the development of the state – a membership in the European Union and a membership in the North Atlantic Alliance,” Poroshenko said during the events on the occasion of the Day of the Security Service of Ukraine on Saturday in Kyiv region.

BEER PRODUCER OBOLON HAS UAH 288 MLN OF NET PROFIT IN 2017

Private joint-stock company Obolon (Kyiv), a large beer and soft drinks producer in Ukraine, saw UAH 288.78 million of net profit in 2017 compared with UAH 219.4 million of net loss a year ago. According to a company report on holding the general meeting of its shareholders scheduled for April 26, its assets last year grew by 7.5%, to UAH 5.737 billion.
Undistributed profit totaled some UAH 381.1 million at the end of 2017, which is 3.5-fold more than a year ago.
Noncurrent liabilities soared 4.9-fold last year, to UAH 2.058 billion, while current liabilities fell by 47.4%, to UAH 1.737 billion. Total bills receivable grew 1.8-fold, to UAH 1.246 billion.
Obolon Corporation produces beer, soft drinks, mineral water and snacks, and is the country’s largest exporter of beer.
The corporation consists of the main plant in Kyiv and nine companies in the regions. Its main brands are Obolon, Carling, Zlata Praha, Bitburger, Hike Premium, Zibert, Desant, Zhigulevskoye, Yachminny Kolos, Zhivchik and Prozora. The corporation also produces the low alcohol drinks Rio, Gin-Tonic, Cherry Whiskey, Rum Cola, Brandy Cola and Ciber.

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TRADE TURNOVER BETWEEN FRANCE AND UKRAINE MAY BE INCREASED TO $3 BILLION – GROYSMAN

Prime Minister of Ukraine Volodymyr Groysman says about the prospects for the growth of trade turnover between France and Ukraine, which, according to the results of the last year, amounted to about $2 billion.
“The trade turnover between France and Ukraine amounted to about $2 billion last year. I am confident that we can increase it to $3 billion,” Groysman wrote on Twitter on Friday following a meeting with French Foreign Minister Jean-Yves Le Drian.
“France is ready for cooperation in the economic sphere. This cooperation could be useful for both sides,” the head of the Ukrainian government added.
According to him, France will continue supporting the territorial integrity of Ukraine. “Meeting with Minister for European and Foreign Affairs of France Jean-Yves Le Drian: France is determined to continue supporting the integrity and sovereignty of Ukraine,” wrote Groysman.