interavia, key ukrainian ground handling service provider, records profit after shareholder change
TRANSCRIPT
Interavia, Key Ukrainian Ground Handling Service Provider, Records Profit after
Shareholder Change
Interavia LLC, a leading Ukrainian ground handling service provider, announces t
hat it recorded a profit for the first time in five years. This can be attribute
d to a change in the Company's.
Kyiv, Ukraine, April 25, 2014 -- Interavia LLC, a leading Ukrainian ground handl
ing service provider, announces that it recorded a profit for the first time in
five years. This can be attributed to a change in the Company's management team
and majority owner. A 70.6% stake in Interavia, previously held by Swiss interna
tional handling company, was purchased by Ukraine International Airlines (UIA).
After Vladimir Semenchenko, the former CEO (who had been appointed by previous s
hareholder), was replaced, Interavia decided not to use Swiss international hand
ling company's expensive services (the cost of these services were significantly
above average market prices). This decision decreased costs UAH6 million per an
num (more than €550,000).
Alexander Surayev, the newly appointed CEO of Interavia, said: “In 2013, for the f
irst time since the Company began providing a full range of services, Interavia
recorded a profit and demonstrated positive operating indicators. It proves that
the Company’s shareholders selected the right development strategy.”
In 2013, Interavia’s fleet of special ground handling vehicles and equipment incre
ased 40%. The company stopped using high priced leased equipment and successfull
y reduced the prime cost of its services.
The Company launched its own maintenance center, which repairs and maintains gro
und handling equipment.
The Company has achieved success with certification. After receiving an anti-ici
ng procedure certificate, Interavia expanded the range of services it offered at
Boryspil International Airport.
The expanded range of Interavia increased the Company’s head count 40%. As of now,
more than 1,000 people work at Interavia.
UIA, the new majority owner of Interavia, increased the Company’s authorized capit
al from UAH24,000 (€2,200) to UAH8 million (€750,000) and provided additional financ
ial guarantees for UAH25.5 million (€2.5 million).
About Interavia:
Interavia LLC (previously Swissport Ukraine LLC) is a leading Ukrainian ground h
andling service provider operating at international airports, including: Boryspi
l, Kiev (Zhulyany), and Kharkiv. Its client base includes approximately 40 air c
arriers working in Ukraine.
Note:
The Ukrainian courts of both primary and secondary jurisdictions approved the ch
ange in Interavia’s majority owner. In particular, on October 26, 2012, the Kiev C
ommercial Court recognized an agreement on the transfer of a 70.6% stake in Swis
sport Ukraine LLC to UIA, and confirmed UIA’s right to this stake. On March 27, 20
13, the Appellate Court upheld the Kiev Commercial Court’s initial ruling. A decis
ion by the representatives of the owners of Swissport Ukraine LLC (dated March 6
, 2012) was at the center of the court dispute. The decision breached the terms
of the Company’s charter and the owners' agreement as UIA’s share in the company was
diluted only by the voting of Swiss shareholder’s representatives.
Contact:
Alexandra Novikova
Interavia
201-203, Kharkivske road,
Kyiv, Ukraine 02121
+38-066-680-4091
http://www.interavia.ua