Ukraine's Cabinet of Ministers has approved a financial plan of the Ukrainian State Air Traffic Services Enterprise (UkSATSE) for 2017 with UAH 55 million of projected net profit.

According to the financial plan, a copy of which has been sent to Interfax-Ukraine, net profit of the company is planned in the amount of about UAH 2.4 billion, earnings before interest, taxes, depreciation and amortization (EBITDA) - UAH 223.4 million, and EBITDA margin - 9.4%.

Gross profit is projected in the amount of UAH 360.6 million, and operating profit - UAH 72.371 million. Capital investments are planned in the amount of over UAH 643 million.

According to the explanatory note to the financial plan, the total expenditure for 2017 is planned at UAH 2.584 billion, which is 6.1% less than in 2016. The planned net profit for 2017 should show an increase of 84.4% compared to the planned indicator for 2016.

The total amount of planned capital investments is the following: UAH 70 million of funds raised from the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), UAH 216 million of depreciation, UAH 55 million of net profit and UAH 302 million of pending disbursements from the enterprise development fund.

The capital investment plan is aimed primarily at maintaining a high level of flight safety, as well as ensuring the appropriate level of airspace capacity of Ukraine in the condition of limited financial resources. In particular, it is planned to purchase some necessary equipment, create and implement new automated systems, and other things.