Ryanair will return to Ukraine within weeks of war ending

Ryanair is planning to connect major airports in Ukraine to almost two dozen European capitals within weeks of the country’s airspace reopening when the war ends.

Europe’s biggest budget carrier announced plans to base up to 30 new Boeing

(BA) 737 MAX aircraft — worth over $3 billion — at Ukraine’s three main airports once the European Union Aviation Safety Agency declares it safe to fly to the country.

Ryanair

(RYAAY) said in a statement Thursday it would offer flights to and from Ukraine within eight weeks of that happening. The airline would operate 600 flights per week between Kyiv, Lviv and Odesa and more than 20 capitals in the European Union.

The resumption of flights from Kharkiv and Kherson — both served by Ryanair until Russia’s full-scale invasion in February 2022 forced the closure of Ukrainian airspace to commercial flights — would have to wait until infrastructure at both airports had been rebuilt.

Speaking from Kyiv, Ryanair CEO Michael O’Leary said the carrier would “charge back” into Ukraine after the war. “The fastest way to rebuild and restore the Ukrainian economy will be with low-fare air travel,” he added.

O’Leary said Kyiv’s main airport, Boryspil International Airport, which he visited Thursday, was “fully ready for the resumption of flights as soon as possible.”

Ryanair said it planned to offer more than 5 million seats to, from and within Ukraine in the first 12 months after the end of the war. It would increase that to more than 10 million seats over a five-year period.

“The visit of Ryanair senior management to Boryspil Airport is a powerful signal that the largest airline in Europe sees huge potential in the Ukrainian air transport market,” said Boryspil International Airport CEO Oleksiy Dubrevskyy.

The move highlights Ukraine’s sustained efforts to court international investors, as it plans for its future after the war.

At the Ukraine Recovery Conference in London last month, more than 400 global companies — including Citi, Sanofi

(SNY) and Philips — pledged to boost investment in the war-torn economy.

Ukrainian President Volodymyr Zelensky has also enlisted BlackRock

(BLK) and JPMorgan to advise on the Ukraine Development Fund, a vehicle that seeks to mobilize capital from private and public sector investors toward rebuilding the Ukrainian economy.