Authorities representing the Yugra government voted to acquire shares in UTair Airlines at a meeting dedicated to event planning for the economic sustainability and social stability of the region for 2015-2017.
 

“We are grateful to the Government of the Khanty-Mansyisk Autonomous Region for the support,” said Andrey Martirosov. “Thousands of people working in our team are ready to justify the trust of such a reliable and important shareholder in UTair’s capital structure. This decision will play an important part in the company’s restructuring and efficiency improvement program to 2020 that will allow us to upgrade operations quality, to ensure access to destinations where civil aviation is the only possible means of transport and to develop our route network”. 

Yugra Region Deputy Governor Dmitry Shapovalov noted that participation in the UTair capital structure will guarantee that passenger operations on the socially important routes will continue, save 1,500 jobs in the region and provide additional tax income for the regional budget.