Ukraine Airline Aerosvit Announces 2009 IPO Plans

According to the airline’s General Director Aaron Mayberg, Aerosvit is planning to hold an IPO on a foreign exchange in 2009. Aerosvit has also announced that it is forming a strategic alliance with another domestic carrier Donbasaero which will be called the Ukrainian Aviation Group and will be one of the country’s largest passenger airlines. According to the company this will help insure that the company remains competitive with foreign competitors. Last year Aerosvit and Donbasareo accounted for 2.1 mln passengers and had combined earnings of USD 370 mln.