Ukraine wants to sell 62 percent stake in major airline

5/11/2009 9:51:19 AM

Ukraine aims to sell the 62 percent stake it owns in the country's second largest airline, Ukrainian International Airlines (MAU).   Under Ukrainian corporate rules, existing shareholders –Austrian Airlines and the European Bank for Reconstruction and Development (EBRD) – have first refusal on the stake, reported Reuters.   Austrian Airlines holds a 22.5 percent stake, while the EBRD has a 10 percent stake.   The airline had revenues of US$370 million in 2008 compared with $277 million in 2007.   The airline makes about 300 flights in a week to mainly European destinations.   CargoNews Asia

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