President of PrJSC Yurii Myroshnykov stated that the company´s aircraft park is used under lease agreements, while the cost of aviation fuel, which has considerably increased, is the main constituent of the expenditures. For 2008-2010, the net profit and the net income have fallen, while the company sustained a net loss by the results of 2010.
On November 5, 2010, the State Property Fund of Ukraine passed a resolution on privatization of the state-owned stake of the Closed Joint Stock Company "Aviation Company "Ukraine International Airlines", which totals 61,58% of the authorized capital. According to the respective order of the Fund, this object was included into the List of Objects of Category E subject to privatization in the year 2010 with the participation of the Fund headquarters.
According to the State Property Fund of Ukraine, the appraiser of the object, Ukrainian Expert Group LLC, submitted a report on the asset valuation of the PrJSC to the State Property Fund of Ukraine.
The Panel recommended the State Property Fund of Ukraine to take legitimate action to facilitate assessment and sale of the state-owned stake of the Private Joint Stock Company "Aviation Company "Ukraine International Airlines." The Panel resolved to address the State Commission for Securities and Stock Market with a request to verify whether the amendments to the status of the PrJSC comply with the applicable legislation and the state interests. The State Property Fund of Ukraine shall report on the results of sale of the equity stake within a month after its completion.
The People´s Deputies also recommend the Cabinet of Ministers to facilitate submission of the State Privatization Program for 2011-2014 to The Verkhovna Rada of Ukraine to prevent voluntary changes in the list of objects subject to privatization.