OREANDA-NEWS. On 13 May 2009 was announced, that UIA shareholders meeting approved Final Audited Accounts for 2008.

The Accounts show a USD 22 million operating profit on revenues of USD 371 million. This 5.9% operating margin again puts Ukraine International Airlines among the upper quarter of airlines worldwide.

A USD 7.6 million currency loss reduced the pre tax profit to USD 10m and the net profit after taxes to USD 6.2 million

“2008 was the 9th successive year of profit for our Airline, - said Yuri Miroshnikov, UIA President. - The fact that UIA managed to get such a considerable profit with extremely high prices for aviation fuel and the world financial crisis hitting the Airline’s operations in the 4th quarter of 2008 , is, without doubt, the result of hard, highly professional and well-coordinated work of its team”.

During 2008, UIA made a significant contribution to Ukraine’s budget and trade balance. In addition to over UAH 1.8 billion in export earnings; UAH 54 million in staff taxes and a UAH 55 million “loan” to the state in VAT payments; the Airline paid UAH 34 million in corporate taxes.

Based on the results of 2008 a dividend will be paid to all shareholders.

9th successive year of profits for Ukraine International Airlines

On Friday, April 24 UIA shareholders meeting approved Final Audited Accounts for 2008.

The Accounts show a USD 22 million operating profit on revenues of USD 371 million. This 5.9% operating margin again puts Ukraine International Airlines among the upper quarter of airlines worldwide.

A USD 7.6 million currency loss reduced the pre tax profit to USD 10m and the net profit after taxes to USD 6.2 million

“2008 was the 9th successive year of profit for our Airline, - said Yuri Miroshnikov, UIA President. - The fact that UIA managed to get such a considerable profit with extremely high prices for aviation fuel and the world financial crisis hitting the Airline’s operations in the 4th quarter of 2008 , is, without doubt, the result of hard, highly professional and well-coordinated work of its team”.

During 2008, UIA made a significant contribution to Ukraine’s budget and trade balance. In addition to over UAH 1.8 billion in export earnings; UAH 54 million in staff taxes and a UAH 55 million “loan” to the state in VAT payments; the Airline paid UAH 34 million in corporate taxes.

Based on the results of 2008 a dividend will be paid to all shareholders.