Ukraine Business News

July 3, 2008 Information for the press

Ukraine International Airlines passenger numbers up 25% in the first 6 months of 2008

Ukraine’s national carrier Ukraine International Airlines (UIA) has increased passenger numbers by a staggering 25% in the first two quarters of 2008
UIA carried 760 000 passengers in the first 6 months of 2008. This was an increase of 25% over the same period in 2007. In June alone the airline operated more than one thousand six hundred scheduled flights, carried nearly 155 000 passengers and more than 400 tons of cargo. The passenger load factor in June was 71%, on average; up from 64.0 % in June 2007.
Airline Deputy President Richard Creagh said “These results are not only a vindication of our ‘low cost, high value” strategy but also proof that the economy is really growing and that Ukrainians now have more disposable income to hand.”
“The improvements we made to our scheduling to improve customer service have also enabled us to make more effective use of our fleet”, he said. “We are now entering the summer peak so continued strong growth is forecast for the second half of the year when our next new Boeing will be delivered.”
Press-office of Ukraine International Airlines
tel/fax: (044) 238 26 97
E-mail: press.service@ps.kiev.ua

Ukraine International Airlines is Ukraine’s leading international carrier. Founded in 1992 UIA was one of the first businesses in Ukraine to attract foreign investment.
UIA also was the first airline in CIS to introduce Boeing 737 aircraft. Today UIA`s fleet consists of 15 modern Boeing 737 aircraft of different modifications.
The airline connects Ukraine with nearly 3000 places of the world, operating scheduled flights to London, Paris, Amsterdam, Brussels, Berlin, Frankfurt, Vienna, Zurich, Rome, Milan, Madrid, Barcelona, Lisbon, Helsinki, Dubai, Tbilisi, Pula, Morastir, Dubrovnik, Nice, Lviv and Simferopol.
The base airport for UIA is Kiev-Boryspil (KBP).
The shareholdings in Ukraine International Airlines are as follows: State Property Fund of Ukraine - 61.6%, Austrian Airlines - 22.5%, Aer Cap - 6% and European Bank for Reconstruction and Development (EBRD) - 9.9%. Detailed information on UIA is available at www.flyUIA.com

Ukraine attains full WTO membership

On May 16th, Ukraine became the 152nd member of the World Trade Organization (WTO).

The negotiations for Ukraine's accession to the WTO had lasted for almost 15 years. During that period, Ukraine introduced a number of structural and economic reforms, underwent transition from planned to market economy, signed 52 bilateral agreements with WTO members, and adopted more than 50 legislation acts required for WTO membership. The most significant breakthrough in the negotiation process was achieved during 2005-2007, when Ukraine received market economy status from the EU and the US and finalized negotiations with the major WTO members.

Ukrainian President Viktor Yushchenko and WTO Director-General Pascal Lamy signed the Protocol on Ukraine’s entry to the Marrakech agreement on the establishment of the WTO in Geneva on February 5th, 2008. The Ukrainian parliament ratified the WTO accession protocol by an overwhelming majority on April 10th. On April 16th, the government of Ukraine ratified the Protocol on Accession. According to the terms of the 8th clause, the Protocol was enforced on May 16th, 2008.

WTO membership will provide the country with a sustainable and predictable trade
environment and will give strong growth impetus to multilateral trade and investments. From the moment of accession to the WTO, Ukraine will enjoy improved terms of trade with 151 countries, which account for almost 95% of global trade. WTO membership will facilitate Ukraine’s European integration, as WTO entry was the main prerequisite for a free trade agreement with the EU.

SigmaBleyzer and The Bleyzer Foundation made a significant contribution through their
expertise, consulting and research activities to steer the country in the direction towards WTO membership.

A grand opening ceremony of “Max-Well” Scientific Oncological and Cardiological Production Center, a unique manufacturing complex producing immunobiological and chemico-pharmaceutical products, was held on March 26th, 2008 in the town of Borispol, Kiev region.

Max-Well

[click here to read the article in Ukrainian]

The production facility is unique, because it was initially designed and built according to GMP standards (Good Manufacturing Practice), the world-wide regulations for production of drug products. Also, both chemico-pharmaceutical and immunobiological drug products will be manufactured at the production facility, which is innovative not only for Ukraine, but for the CIS countries practice as well.

"The production facilities of the enterprise, being analogue-free in Ukraine, will permit to manufacture over 200 million capsules, about 150 million pills, 60 million vials, 30 million pre-filled syringes and 30 million suppositories per year. Just at this enterprise the drug products for treatment of oncological, cardiological and severe viral diseases will be manufactured", - Mr. Vladimir Bugaychuk, General Director of SOCPC "Max-Well" stated.

In addition, "Max-Well" is planning to concentrate on manufacturing generics, the drug products similar to medications, which are developed and produced by the famous leading producers of pharmaceuticals and proved their effectiveness.

"This approach will allow to substantially reduce the cost of the manufactured drug products, it means that the Ukrainian citizens will receive effective drug products at a lower cost to treat the most widespread diseases today." - Mr. V. Bugaychuk emphasized.

The Scientific Oncological and Cardiological Production Center “Max-Well” is the first in Ukraine and the largest in the former Soviet Union profiled complex, which combines the Polyclinic center for diagnostics and treatment of cardiological and oncological diseases, manufacturing of drug products and the research-and-development center. At present the SOCPC “Max-Well" is the biggest international investment in the Ukrainian pharmaceutical branch. The total investment volume in this project has already made up over US $90 million dollars, and in the nearest future the investment amount will increase up to US $130 million dollars. The investment fund of the project on production facility construction in Ukraine was formed by Mr. Mukhtar Ablyazov, the Chairman of the Board of Directors at JSC "BTA Bank", a highly regarded and accomplished international businessman.

Voice of America Ukrainian Service profiles Max-Well, LLC as the first American company to build, own and operate a pharmaceutical production facility in Ukraine.

VIDEO: click here