Shares of airlines fell amid a situation of avoiding the skies over Ukraine .
At a time when European airlines have taken additional steps to avoid Ukraine, airline stocks have fallen – after rising tensions over the weekend due to the build-up of Russian troops at the border.
Ukraine , Ukraingate , 14 , February , 2022 | Ukraine News
Details
“Shares of Hungarian Wizz Air Holdings Plc fell 11%, the biggest drop since November, leading to a drop in shares of European airlines. (…) Deutsche Lufthansa AG fell 6.1% and shares of Air France-KLM fell 7% , 6% “, – the edition writes.
The volatility of oil prices caused by the crisis is also a threat to airlines’ profits, the newspaper said.
At the same time, some other flights to Kyiv were still operated as usual.
On Monday, Wizz said it was monitoring the situation. Lowcoster said in January that he was ready to relocate four planes based in Ukraine if necessary.
According to the representative of Air France, on Tuesday the flight to Kyiv will be performed in the usual mode, noting that the rotation is carried out during the day without the need for the crew to spend the night.
Before
The publication reminds that KLM suspended flights to Ukraine on Saturday after the Dutch government increased the level of danger, advising citizens to leave the country due to insecurity.
Ukrainian airline SkyUp had to land one flight to Kyiv in Moldova after insurers said they would suspend insurance coverage for Ukrainian carriers, forcing aircraft lessors to demand that the aircraft be returned to the EU.
Israel has said airlines, including El Al, are adding flights to about 4,500 citizens who have invited flights home.
Ryanair Holdings Plc reduced the frequency of flights in January, and KLM was among the carriers that changed the schedule last month so that crews would not have to stay overnight in the Ukrainian capital.
Addition
At an emergency meeting on Sunday, the Cabinet of Ministers of Ukraine allocated UAH 16.6 billion ($ 600 million) as a guarantee to insurers and leasing companies that airlines will continue to fly to the country.
Airlines have still avoided flights over Ukraine since the Malaysia Airlines plane was shot down over the ORDO in 2014.
Source: Ukrgate