The supervisory board of private joint-stock company AeroSvit Airline on January 29, 2013 instructed the airline's director general to immediately take all the required actions to gather a general meeting of shareholders on the additional share issue.

"The supervisory board also obliged the director general in two weeks to draw up a strategic plan on bringing the airline out of its crisis situation (the readjustment plan), based on the operational restructuring program, taking into account the gradual recovery of long-haul routes of the carrier in full," reads the report of the airline issued on Thursday.

According to the report, the document is to include a clear operations plan, current and prospective flight schedules, and proposals for overcoming the crisis situation and restructuring the company's current debt.

Under an order of the supervisory board, AeroSvit's administration has sent an address to its shareholders and state agencies with proposals on settling urgent problems that hinder the operation of the airline, in particular, the delay of payments for AeroSvit's tickets sold via the IATA BSP system, as the airline has already performed the flights and the funds have been written off the airline's accounts by VTB Bank.

The carrier said that representatives of the State Property Fund of Ukraine, Infrastructure Ministry, State Aviation Service of Ukraine and some trade union organizations of the airline took part in the meeting of the supervisory board. The board thanked the government for its clear position on the retaining of the airline and not allowing its bankruptcy and liquidation.

"Board members expressed regret that the state as a shareholder in the company was not active in the management of AeroSvit in previous years," reads the report.

The board said that the consolidation of efforts of all the shareholders, including the state, will promote the creation of proper conditions for resumption of exploitation of routes and allow AeroSvit to fulfill its liabilities in full.

AeroSvit was created in 1994. It is based at Boryspil airport in Kyiv. It previously served 80 international destinations in 34 countries, and provided services to the largest cities of Ukraine. Its fleet consisted of 28 Boeing aircraft, including 20 medium-range Boeing 737s and eight long-haul Boeing 767s. In addition to that, it operated Airbus 320, Airbus 321, Embraer 145, Embraer 190, and ATR-72 aircraft.

According to AeroSvit, Dutch-based Gilward Investments B.V. owns about 38% of the stocks in the company, the State Property Fund has a 22.4% stake, and the Ukrainian companies GenAviaInvest, Investment Advisors Group and Bureau hold 24.99%, 9.8% and 4.8% of the airline's shares respectively.

President and CEO of EastOne investment group - combining the assets of Victor Pinchuk - Kyrylo Rubynsky, recently said that EastOne, which owns a 24 99% stake in AeroSvit through GenAviaInvest, is ready to consider any proposal aimed at keeping the shareholder value or related to the corporate actions of the company.