22:20 GMT +312 December 2019
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    Aeroflot Russian Airlines Boeing-767 at Sheremetyevo airport.

    Russian, Ukrainian Airlines to Lose Around $121Mln Annually Over Flight Ban

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    Both Russian and Ukrainian airlines will incur losses because of the reciprocal flight bans.

    SOCHI (Sputnik) – Overall losses to Russian and Ukrainian commercial airlines over the mutual bans of each country banning each other from their airspace are estimated to be up to $121 billion, Russian Transport Minister Maxim Sokolov said Friday.

    “In regard to business, since the overall market volume was around 100,000 passengers per month, that means approximately one million per year, and the average ticket prices for flights from Moscow to Kiev were around 7,000-8,000 rubles [$121], so we can say that the overall losses for both Russian and Ukrainian carriers would be around 7-8 billion rubles [$121.65 million] annually,” Sokolov said during a forum in Sochi.

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    financial loss, Maxim Sokolov, Ukraine, Russia
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