KYIV, Nov 8 - The European Bank for Reconstruction and Development plans to provide a loan of $5.4 million to Air Ukraine International to allow the airline to increase the volume of passengers it transports between Ukraine and Western Europe, an EBRD press release said, Ukrainian News reported.
The EBRD’s board of directors is expected to make a final decision on the loan on November 29 this year.
According to the press release, Air Ukraine International is to transfer 10 percent of its statutory capital to the EBRD after obtaining the EBRD loan.
The press release stated that part of the loan would be used to improve ecological standards on the engines of Air Ukraine International's airplanes.
Air Ukraine International specializes in international cargo and passenger transportation.
The company was founded in 1992.
Its founders include Austrian Airlines (Austria), Swissair (Switzerland), and Guinness Peat Aviation (Ireland).
The airline owns five Boeing-737 planes. It also uses An-24 planes.