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

© Sputnik / Marina Lisceva / Go to the mediabankAeroflot Russian Airlines Boeing-767 at Sheremetyevo airport.
Aeroflot Russian Airlines Boeing-767 at Sheremetyevo airport. - Sputnik International
Both Russian and Ukrainian airlines will incur losses because of the reciprocal flight bans.

Airbus A330 aircraft - Sputnik International
Ukraine Closes Airspace to Russia, But Fears Tit-For-Tat Retaliation
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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