UkSATSE will receive a credit for €25 million

Украэрорух получит кредит на €25 млн

Photo: facebook.com/UkSATSE.official

Received in the form of EBRD loan the money will be spent on payment of salaries to employees

The enterprise faced the threat of a work stoppage as a result of unprecedented crisis caused by the quarantine termination of flights of the airlines.

The state enterprise UkSATSE and the European Bank for reconstruction and development signed a Memorandum for a loan of €25 million On Friday, 10 July, said the Minister of infrastructure Vladislav Crickley in his telegram channel.

“This is a very timely and appropriate support liquidity of the enterprise and ensure its smooth operation”, — he said.

Received in the form of EBRD loan the money will go to pay salaries to employees, payment of mandatory payments to the budget and state funds, the financing of critical operating expenditure, said the head of the company Andrey Yarmak.

The enterprise faced the threat of a work stoppage as a result of unprecedented crisis – because it is funded by money received from airlines for air navigation services.

Stop aerial overflights because of the quarantine led to the cessation of revenue for the company.

Unlike airlines, air navigation service provider cannot stop their activity, because it is part of critical infrastructure.

We will remind, the enterprise in 2014 fell short of UAH 19 billion due to the reduction of the volume of flights in the uncontrolled Donbas and Crimea. In five years, the number of flights over Ukraine decreased by 44% — to 300 thousand.

korrespondent.net