DUBLIN (dpa-AFX) - Irish airlines company Ryanair Holdings plc. (RYAAY) announced on Thursday that it plans to invest over 3 billion to rebuild Ukraine's aviation industry once the war ends. The investment will also see that the European Union Aviation Safety Agency or EASA declares flying to and from Ukraine safe again.
The company held meetings in Kyiv with Deputy Prime Minister for Restoration of Ukraine and Minister for Infrastructure, Oleksandr Kubrakov.
Ryanair also held meetings with Ukraine's main airports, Kyiv, Lviv and Odesa in Boryspil International Airport at the invitation of Oleksiy Dubrevskyy, CEO of Boryspil International Airport.
The senior management of the airline examined the condition of the airport terminals, baggage claim and passenger check-in and boarding gate areas, control points, and aprons during the visit.
The company has committed to returning with low-fare flights to/from Ukraine within 8 weeks of the reopening of Ukraine air space. The main airports of Kyiv Lviv and Odesa will see 600 weekly flights being operated by Ryanair aircraft connecting these cities to over 20 EU capitals.
Additionally, Ryanair plans to open daily domestic flights between Kyiv, Lviv, and Odesa, as soon as they are operational.
In the first 12 months post-war the company plans to offer over 5 million seats to/from and within Ukraine and will scale to over 10 million seats over a 5-year period. The airline company will base up to 30 new Boeing 737 MAX aircraft worth over $3 billion at the three main Ukraine airports.
Currently, shares of Ryanair are trading at $107.89 down 1.46% or $1.59 on Nasdaq.
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