How did the Ukrainian airline SkyUp manage to achieve record revenues of UAH 3.2 billion?

Record profits of UAH 3.2 billion. The Ukrainian airline SkyUp changed its business model, which brought it success. With the beginning of the war, the passenger air transport market in Ukraine practically stopped due to the invasion of the Russian Federation. However, despite this, SkyUp Airlines earned record revenues, surpassing competitors and earning UAH 2.756 billion in 2022. The company was under the demands of insurance companies and temporarily exported its aircraft to Europe, switching to the ACMI contract format, which worked successfully and the company's revenues increased in 2023. SkyUp Airlines was founded in 2017 and is part of the financial and industrial group of the Alba family, represented by Oleksandr and Yurii Alba. The company cooperates with the co-owners of the tour operator Join UP! and has two founders: the Ukrainian LLC "ACS-UKRAINE" and the British company "Global Travel Holding LTD". Next, we will tell you about how the business of SkyUp Airlines works, who are its partners, what flights its planes fly, what the ASMI contract is and how the company works in Europe, the United States and Canada. We will also tell you about the company's annual revenue for 2023, future plans and much more. When launching a Ukrainian airline, SkyUp Airlines faced difficult market conditions, but thanks to the company's effective business model, it became successful and earned record profits, surpassing many competitors.

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