KYIV (Reuters – Ukraine International Airlines, the largest carrier in Ukraine (UIA), announced Monday that it had leased its medium-haul Boeing (NYSE 🙂 737-900 plane to Latvian airline airBaltic. This was to minimize its losses due to Russia’s invasion.

After Russia invaded Ukraine on February 24, the company ceased operating its services. This was in response to attacks on airports and other infrastructure. The government of Kyiv then declared martial law, closing off commercial aviation.

“From May 1, aircraft and crews for the Ukrainian airline, will be based from Riga Airport in order to serve the network of partner flights,” UIA announced in a statement.

Martin Gauss (airBaltic Chief Executive Office) stated in a separate statement, that his company will temporarily lease the UIA plane to provide temporary work for employees.

According to him, Ukraine International Airlines is a trusted long-term partner of AirBaltic.

Before the invasion, UIA employed approximately 1,300 people and had 25 planes. This included the wide-body wide-body airplane Boeing 777, 200ER, and Boeing 767, 300ER. It also operated 16 medium-haul Boeing 737 New Generation planes.

It is called a wet leasing’ agreement. The lessor retains control of flight operations and provides crew.

According to the Ukrainian company, four crews – totaling 28 people – will be responsible for the operation of the UIA plane on partner routes. Both the corporate livery and colour scheme of the UIA will be preserved on the aircraft, along with crews.

Evheniy Dykhne CEO, UIA, stated that “we are sincerely grateful that our European partners help both the Ukrainian government and business with a transparent, absolutely transparent support Ukraine.”