Wizz Air Holdings Plc has announced that it will restructure the Group's operations in Ukraine, and as of April 20 2015, Wizz Air Hungary will operate eight routes to and from Ukraine, followed by opening a Kyiv base with one Airbus A320 aircraft on June 4 2015, Wizz Air has reported on its website.

Also from April 20 2015, Wizz Air Ukraine, currently flying two aircraft on 16 Ukrainian routes, will cease operations.

"This decision was made, with regret, due to the ongoing instability in eastern Ukraine, the devaluation and volatility of the Ukrainian hryvnia, the limitations in paying suppliers due to foreign exchange controls, and the uncertainties surrounding the new aviation order and the restrictions it might impose," the airline announced.

As reported, Wizz Air Ukraine had already reduced the number of its aircraft from four to two in the first half of 2014 following the reduction in the number of aircraft based in Kiev and the suspension of operations from Donetsk.

The two remaining Kyiv-based aircraft will be withdrawn. Wizz Air Hungary will open a new operating base in Kyiv with one aircraft based there.

"We have started processing refunds for the cancelled flights, and we ask all Wizz Air Ukraine customers to check their mailboxes frequently as all updates will be sent by email regarding refunds to the email address given at the time of booking," the company said.

Wizz Air Ukraine serviced 16 routes from two Ukrainian cities to six countries.

In 2013, it carried over 1 million passengers. Its fleet included two medium-ranged Airbus A320 planes.