Ukraine's Antonov Airlines to reach 2021 revenue level despite loss of planes due to war

The gross revenue of Ukrainian cargo carrier Antonov Airlines is projected to return to 2021 levels this year despite the company losing a third of its large cargo aircraft fleet due to the war.

Source: Ekonomichna Pravda, citing sources at Antonov

Details: Antonov Airlines' fleet of large cargo aircraft has decreased from eight to five since the start of the full-scale invasion. The company now operates five An-124 Ruslan aircraft. Before some planes were destroyed by Russian forces at the Hostomel airfield in March 2022, Antonov had seven An-124 Ruslan and one An-225 Mriya aircraft in service for cargo transport.

Approximately 50% of Antonov Airlines' flights are conducted under the SALIS programme, transporting military cargo for NATO customers. The other 50% serve commercial clients worldwide, handling cargo such as satellites, heavy specialised equipment, and military goods.

The company told Ekonomichna Pravda that the transportation rates under the SALIS programme are lower than the market rate, but they provide consistent income. In contrast, commercial customers pay higher rates, though their business is less regular.

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