OREANDA-NEWS. November 22, 2010. This State decision of the major shareholder is in line with the UIA Privatization Project discussed by Shareholders and Management of the Company for a long period of time. The State represented by the Fund has been stating its position on reducing the State share in the Airline for several years, reported the press-centre of UIA.

The other shareholders and management were actively highlighting the need for State share reduction to permit further privatization and fund raising to increase the competitiveness of UIA as the leading National Carrier of Ukraine. The privatization of airlines today respons the trends at the global airline market: the state's share in success national carriers is being reduced to a minimum or is absent at all.

Management supports this State decision considering it as a further significant step in the Company’s development, in the best interests of Ukrainian aviation. It will facilitate the attraction of new capital, bring the business to a higher level of efficiency and competitiveness and increase the motivation and satisfaction of the personnel.

Management will provide full support to the Shareholders in this process of further privatization of the Company.