According to an Ukrinform correspondent, the memorandum was signed during the forum "Big Construction: Aviation and Tourism" on Thursday, November 25.
"Today we celebrate the birthday of the new national airline. Its name is 'Ukrainian National Airlines'," said Infrastructure Minister Oleksandr Kubrakov.
He stressed that the Ukrainian national airline was being created to protect Ukraine's strategic interests in the field of air transportation, including in situations when the emergency evacuation of citizens is needed.
Kubrakov added that the air transportation market in Ukraine is growing and the new airline will carefully compete with private carriers.
"We understand what we are doing. We are in constant dialogue with the market. I think that we will all have enough space in the market as it will be growing," he said.
He said that a business plan for the launch of the national airline has already been developed and a feasibility study of the project has been finished.
According to Kubrakov, UAH 500 million will be allocated for the establishment of the company in 2021 and UAH 2.5 billion will be required in 2022. The national carrier is expected to pay for itself in five years.
In April 2020, President Volodymyr Zelensky announced his intention to create a modern state-owned airline with a Ukrainian aircraft fleet.
Photo credit: President's Office