Shares of Wizz Air and Ryanair have dipped 11.25 and 2.86 per cent respectively after the low-cost airlines halted all Ukraine operations as a result of Moscow’s offensive and the closure of the country’s airspace.
“All Ryanair flights to/from Ukraine have been suspended for at least the next 14 day […] and all flights to/fromUkraine have been removed from sale for at least the next four weeks until further information becomes available from EU safety agencies,” said Ryanair in a tweet this morning.
Just like the Dublin-based airline, Wizz Air tweeted that all flights to and from the country were temporarily suspended, saying it was working to evacuate Ukrainian crew members, their families and four aircraft.
Earlier this morning the European Union Aviation Safety Agency (EASA) published a conflict zone information bulletin on Ukraine, defining it as an active conflict area.
The agency warned all airlines to avoid flying within 100 nautical miles from the Belarusian and Russian-Ukrainian border.
“Under these circumstances, the aforementioned airspace and critical infrastructure, including airports, are exposed to military activities which result in safety risks for civil aircraft. In particular, there is a risk of both intentional targeting and misidentification of civil aircraft,” EASA said in a statement.
Willie Walsh, former IAG chief executive and now director general of the International Air Transport Association (IATA), said the trade association was cooperating with airlines to help plan operations.
“IATA is helping to facilitate the relevant and timely sharing of information with airlines from government and non-government sources to support airlines as they plan their operations around airspace closures in the Ukraine and parts of Russia,” he said via social media.
“The escalation of events in Ukraine is deeply saddening. We hope for an early and peaceful resolution. For aviation, safety is always the top priority.”