The aviation industry enterprise FED JSC (Kharkiv) in January-June 2022 received a net income of UAH 228.18 million, which is 2.7 times less than in the same period of 2021.
According to the interim financial statements of the enterprise, published in the information disclosure system of the National Commission for Securities and Stock Market (NCSM), its net profit in the first half of the year decreased by almost 9 times – to UAH 19.84 million.
FED received UAH 26.48 million of net profit from operating activities against UAH 223.3 million a year earlier, while gross profit decreased 3.4 times, to UAH 88.36 million.
The report notes that the suspension of the company’s activities during the war period affected the financial statements, resulting in, in particular, a decrease in revenues. At the same time, the report does not indicate the period for which the work was suspended.
According to the company’s previously published statements for the first quarter of this year, its net income for this period decreased by 40% – to UAH 170.35 million, and net profit by 39% – to UAH 40.12 million.
Thus, in the second quarter of this year, the FED received a loss of UAH 20.28 million against a net profit of UAH 110.19 in April-June 2021, and net income decreased by 5.8 times to UAH 57.83 million.
JSC “FED” is one of the leading enterprises in Ukraine, specializes in the development, production, maintenance and repair of units for aviation, space and general engineering purposes. Export geography includes EU countries, China, South Korea, India, UAE.
In 2021, according to preliminary data, the company increased its net profit by 55% by 2020 – up to UAH 395.37 million, net income has not yet been made public.
By the beginning of 2021, the company employed more than 940 people.
More than 98% of the shares of JSC “FED”, according to the National Securities and Stock Market, belongs to the head of the board Viktor Popov.
SkyUp Airlines (Kyiv) since April 2020 has repeatedly addressed the President, the Prime Minister and the Minister of Infrastructure of Ukraine with letters asking to support the country’s aviation industry, the company has told Interfax-Ukraine.
It is noted that in June 2020, together with other enterprises of the industry, SkyUp appealed to the government with a request to provide state support to the industry. The appeal also outlined the problems the enterprises faced and proposals for their solution in cooperation with the state.
SkyUp emphasizes that, in addition to financial support, there can be many models of assistance – loans, loans under state guarantees, loans under the companies’ obligations, etc.
“The main thing is that this scheme is working, and there is a dialogue with the enterprises,” the company said.
“Today, the issue of state support for the industry remains open. Moreover, to date we have not received compensation for the special flights that were carried out to return more than 12,000 Ukrainians from Egypt in March,” SkyUp added.
Earlier, Ukraine International Airlines (UIA) stated that it had also repeatedly sent requests to the authorities about the need to support both the company itself and the Ukrainian aviation industry as a whole.
