Business news from Ukraine

Business news from Ukraine

UKRAINIAN AIRLINES INCREASE PUNCTUALITY TO 86% IN MARCH

Ukrainian airlines in March 2019 serviced 86.2% of flights of the total number of flights serviced at Ukrainian airports within the 15 minute deviation from the timetable, which is 9.1 percentage points (p.p.) better than the figure for January 2019 (77.1%), according to a posting on the website of the State Aviation Service of Ukraine.
According to the authority, in March, Ukrainian airlines serviced 3,701 flights.
The punctuality of foreign airlines in March compared with January increased to 87.1% from 75.1%, while the number of flights totaled 2,677.
Of the Ukrainian airlines that made more than 50 flights a month in January, Motor Sich remains the most punctual, with 93.4% and the number of flights 229.
Windrose is second with 91.2% and with the number of 342.
Punctuality of Ukraine’s largest airline in the market – Ukraine International Airlines – was 87.5%, while the number of flights serviced was 2,602.
The indicators in March for Bukovyna and SkyUp were 81% each and 84 and 267 flights respectively.
Air Baltic, Jordan Aviation, Alitalia, Czech Airlines, Laudamotion, AZAL, Wizz Air UK and Bulgaria Air were ranked the top of the March punctuality rating among foreign airlines with the 100% punctuality, the number of their flights was from four to 83 per month.
Pegasus Airlines had the best performance among low cost airlines – 92.6% with 95 flights. The figure of Hungarian Wizzair was 91.6% with 486 flights, while Irish Ryanair and the Italian airline Ernest turned out to be next in the rating – 88% with 233 flights and 87% with 100 flights respectively.

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LATVIAN CONCERN OLAINFARM RAISES SALES IN UKRAINE BY 21%

The Latvian pharmaceutical concern Olainfarm in January-March 2019 increased sales in Ukraine by 21% compared to the same period in 2018.
According to the concern, the share of its sales in Ukraine for the two months amounted to 8% (EUR2,852 million) of consolidated sales.
However, in March 2019, the consolidated sales of Olainfarm in Ukraine decreased by 24% compared with March 2018, to EUR172,000 and amounted to 2% of the total sales of the concern.
In total, in the first quarter of 2019, the concern increased sales by 14%, to EUR34.7 million, in March the sales of the group rose by 3% compared to March 2018, to EUR10.8 million.
In January-March 2019, Latvia (a share of 28%), Russia (26%), Belarus (16%) and Ukraine (8%) remained the main sales markets of Olainfarm group.
Olainfarm is Latvia largest and one of the largest companies in the Baltic States for production of medicines and chemical-pharmaceutical products. The portfolio of its products includes over 60 finished dosage forms, 25 active pharmaceutical substances and more than 20 chemical intermediate products.

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ARRICANO POSTPONES PAYMENT OF $47 MLN OF DEBTS

Arricano Real Estate Plc (Cyprus), the managing company and developer of some shopping and entertainment centers in Ukraine, has decided to postponed settlement of liabilities in the amount of $47.1 million to Retail Real Estate OÜ (RRE, Estonia), Barleypark Limited and one of its main constructors for the end of 2019.
According to a company report on the London Stock Exchange (LSE), the company has received written representations from Retail Real Estate OU and its affiliated company Bytenem Co Limited that lead the board to believe that the group will not be required to settle in 2019 outstanding accrued interest and other accounts payable in the amount of $21.360 million plus further interest accruing during the year ending December 31, 2019.
Arricano has received a letter from Barleypark Limited waiving its right to claim early repayment of the loan or any part thereof, including, but not limited to all or any part of the interest accrued, amounting in aggregate to $22.004 million until after 31 December 2019.
The group has also received a comfort letter from one of its main constructors, stating that it will not claim payment of invoices amounting to $3.772 until after December 31, 2019.

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MYKOLAIV SEAPORT RAISES FREIGHT TRANSSHIPMENT BY 26%

Mykolaiv seaport in January-March 2019 increased cargo handling by 26.2% compared with January-March 2018, to 8.117 million tonnes.
According to the data of the Ukrainian Sea Ports Authority, during this period the port increased the transshipment of exported cargo by 30.72%, to 6.247 million tonnes, imported cargo by 26.67%, to 1.606 million tonnes, and coastal freight handling by 12.75%, to 263,470 tonnes. The port did not transship transit cargo.
In January-March 2019, the port increased the transshipment of liquid cargo by 0.1%, to 764,830 tonnes, increased dry bulk freight by 28.1%, to 6.3 million tonnes, packaged ones by 40.32%, to 1.052 million tonnes.
As reported, Mykolaiv seaport in 2018 increased cargo handling by 24.09% compared with 2017, to 29.2 million tonnes.
Mykolaiv seaport has an area of 97.3 ha and a water area of 224.5 ha. It is connected to the Black Sea by the Buho-Dniprovsko-Lymansky canal. The port has 15 berths with a total length of 2.962 km.

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