Ryanair’s $3 Billion Investment Plan for Ukraine Post-War with Russia

In a significant move, Ryanair has announced its commitment to invest $3 billion in Ukraine once the conflict with Russia comes to an end. The low-cost carrier’s CEO, Michael O’Leary, personally delivered the news during his visit to Kyiv on July 20, 2023.

During his visit, O’Leary met with key officials, including Oleksandr Kubrakov, Ukraine’s Deputy Prime Minister for the Restoration of Ukraine and Minister for Infrastructure, as well as Oleksiy Dubrevskyy, the CEO of Kyiv Borispil International Airport (KBP).

Ryanair’s delegation, consisting of senior management, had the opportunity to assess KBP’s terminals and infrastructure. They were impressed with the airport’s excellent state and operational readiness to resume flights once deemed safe to do so.

The airline aims to become a vital partner in the reconstruction and revitalization of Ukraine’s aviation industry. O’Leary praised the professionalism of the Boryspil airport team, stating that it is fully prepared for a swift resumption of flights.

Ryanair has ambitious plans in place, with preparations to launch 600 weekly flights to and from Ukraine within eight weeks of the country’s airspace reopening. This includes international flights to more than 20 European Union capitals and domestic flights connecting Kyiv, Lviv, and Odesa.

The airline plans to offer over five million seats to and from Ukraine, with an ultimate goal of increasing capacity to over 10 million seats within five years. To achieve this, Ryanair intends to deploy up to 30 Boeing 737 MAX aircraft, worth over $3 billion in list prices (which are typically unrepresentative of actual aircraft prices), in the three Ukrainian cities.

O’Leary pointed out that before Russia’s unlawful invasion of Ukraine in February 2022, Ryanair was the country’s second-largest airline. He emphasized that low-cost air travel is vital for the swift restoration of the Ukrainian economy.

Kubrakov stressed the importance of maintaining airport operations and the skills of industry employees, revealing that Ukraine is already working on a plan to resume flights once the war concludes. Dubrevskyy expressed confidence that Boryspil Airport would continue to serve as a crucial gateway for the return of Ukrainian citizens and play a leading role in the nation’s economic recovery.

Ryanair’s investment plan is a beacon of hope for Ukraine’s post-war resurgence, with the potential to bolster the country’s aviation industry and offer much-needed connectivity to the global market.