European Airlines are trying to negotiate access to and out of Ukrainian airspace as the country enters deeper turmoil following last week’s invasion by Russia.
Airspace is closed to commercial airlines over Ukraine, as well as parts of Russia and Moldova, with Wizz Air Holdings PLC (AIM:WIZZ) and Ryanair Holdings PLC (LSE:RYA) among the groups trying to mitigate the impacts to Ukraine business, while also try to provide aid.
Hungary-based airline Wizz, the only EU airline to have bases and aircraft based in Ukraine, has prepared an evacuation plan for its assets.
"In this very concerning situation we have been focused on helping our colleagues and their families in Ukraine, to move to places of safety,” said Wizz Air chief executive József Váradi.
“I am incredibly proud of how our people have stepped up and worked around the clock to try to provide the best support at this difficult time.”
Wizz Air said it expects 7% of its network to be impacted by the fallout of the invasion, with February seeing 2% of its network affected.
Meanwhile, Ryanair is looking ahead to a time when it can resume operations in the country, as its chief said it was providing humanitarian aid to the country in its planes.
The airline’s chief executive Michael O’Leary told the Guardian that Ryaniar had planned to fly 2mln people to four airports in Ukraine this year, with plans to expand prior to the invasion.
“We will be the first airline to return to Ukraine when it is safe to do so … but I suspect it will take until next winter, when hopefully the Ukrainians will have seen off the Russians and sent them back to where they came from,” O’Leary said.
O’Leary said the company had seen a surge of bookings to Ukraine’s neighbour Ukraine, as family members try to reunite with Ukrainian refugees close to the border.
Ryanair’s share price is down 17.4% in the last five days to close at US$88.99 yesterday, while Wizz Air is down 9.1% to 3,025p.