AeroSvit Ukrainian Airlines celebrates 10 years of success (10/10/04)

AeroSvit Ukrainian Airlines celebrates 10 years of success

KYIV - AeroSvit Ukrainian Airlines celebrates its 10th anniversary in October. Over the past decade, AeroSvit achieved unprecedented results in the Ukrainian airline industry, evolving from a start-up company operating only one aircraft to Ukraine's leading air carrier with the largest aircraft fleet, the greatest number of passengers carried, the most extensive route network and the most dynamic growth in operational results.

In mid-2004, AeroSvit Airlines became the first air carrier in the history of independent Ukraine to appear among the top 200 airlines of the world rated by the number of passengers carried. Today, AeroSvit Airlines operates flights to 25 countries of the world. It is also the only Ukrainian air carrier that performs flights on long-haul routes (including trans-Atlantic routes) and is one of the largest air carriers in the Ukrainian domestic market.

"The past 10 years have been truly amazing," said Gregory Gurtovoy, AeroSvit's general director and CEO. "We have been working very hard to make AeroSvit the premiere airline not just by European standards, but by worldwide standards as well. Our growth in revenue, market share, and passenger traffic worldwide is only surpassed by our relentless commitment to quality, safety, and overall passenger satisfaction."

The airline recently has had a number of significant accomplishments. As the largest airline employer in Ukraine with about 1,300 employees, AeroSvit has more than doubled its market share over the past five years, from 16 to 34 percent, and modernized its entire fleet faster than any other Eastern European airline with the addition of Boeing 767 and 737 aircraft. As of September, AeroSvit has the largest route network out of all air carriers in Ukraine, comprising 11 domestic and 45 international routes to 25 countries.

Most impressive is AeroSvit's growth in North America. With two Boeing 767-300ER aircraft connecting Kyiv with New York and Toronto, AeroSvit is already planning daily trans-Atlantic flights to New York next year. "We are seeing an incredible growth in passenger and cargo demand," stated Kostadin Botev, AeroSvit's regional manager for North America. "As North American airlines are tackling a number of operational and financial challenges, we are posting strong results in passenger and cargo traffic that require increased capacity."

The airline has already implemented state-of-the-art eBooking and Purchasing systems available through www.aerosvit.com, and is planning to start an eTicketing system in 2005. "Since the commencement of our operation, North American increase in traffic to about 40,000 passengers and our expansion plans demanded our implementation of the online system and became a strong impetus for further growth," added Mr. Botev.

AeroSvit Airlines' operating revenues in 2003 were $106 million - an increase of 66 percent compared to 2002 results; the company is predicting a 70 to 80 percent increase in yearly revenue for 2004. Predictable annual passenger traffic (2004) exceeded 1 million passengers, which represents about 60 percent growth compared to 2003.

In addition to considerable investments into a modern aircraft fleet and highly qualified personnel, AeroSvit Airlines has also decided to construct a new international terminal at Ukraine's major airport, Boryspil, that will cost over $80 million. The new terminal complex will be put into operation in March 2006.

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