The EBRD is extending a €25 million loan to UkSATSE to help the air traffic control agency survive the collapse in air traffic.

The EBRD is extending a €25 million loan to UkSATSE to help the air traffic control agency survive the collapse in air traffic. The agency earns its money by guiding planes through Ukraine’s air space. In June, domestic flights were down 54% yoy, international flights were down 89.5%, and overflights were down 91%. EBRD said Friday the ‘solidarity’ loan will help cover “liquidity and working capital needs of the company to maintain the uninterrupted provision of vital operations despite a significant reduction in air travel following the worldwide lockdown triggered by the coronavirus pandemic and public health measures to contain its spread.”