Ukraine Plans to Sell State Stake in AeroSvit Airline

The Ukrainian government plans to sell its 22.394 percent stake in the country’s second largest air carrier, AeroSvit, in 2012-2013, the State Property Fund of Ukraine said on Friday.

The nominal value of the stake for the sale stands at 4.336 million hryvnas ($542,000), the state service said in a statement.

The shareholders of the airline, which also includes GenAviaInvest firm with 25 percent minus one share stake and companies related to Privat financial group with 52 percent stake, are in corporate conflict. The stockholders could not hold a meeting from December 2011 to re-elect the current board of directors and amend the charter due to lack of shareholders’ quorum at 60 percent.

AeroSvit, established in 1994, is based at Boryspil International Airport near Kiev. Its fleet includes 28 Boeing planes as well as Airbus 320 and 321 and Embraer 145 and 195 aircraft.


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