Enter multiple symbols separated by commas

2 Ukrainian Airlines May Cancel Flights

Ukraine's two main airlines threatened Thursday to cancel all flights, blaming a sharp hike in jet fuel prices.

AeroSvit and Ukrainian International Airlines said they had refused to accept a 40% increase in jet fuel prices that went into place Thursday by fuel suppliers Krebo and LukAviaOil. The two airlines warned they may cancel all their flights beginning Friday if the government does not take action.

"The price is unreasonable. We cannot conclude this deal as it means a $14 million loss for our company this year," said Yevhenia Satskaya, a spokeswoman for Ukrainian International Airlines.

AeroSvit said Thursday it had canceled one domestic flight and might cancel several other domestic flights.

The airlines asked the government to intervene, noting that the price hike came as the international price for oil had decreased.

LukAviaOil representatives refused to comment on the dispute; no one was available at Krebo for comment.

Transport Minister Mykola Rudkovsky said talks involving all sides would be held later Thursday.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.