Ryanair, the European largest airline, announced that it has cancelled its planned entry into Ukraine following Boryspil airport's failure to honor a growth agreement reached at the Ministry of Infrastructure with the airport officials and Airport Director General Pavlo Riabikin in March of this year, reads a company report.

"On behalf of Ukrainian visitors and consumers, we regret that Kyiv airport has demonstrated that Ukraine is not yet a sufficiently mature or reliable business location to invest valuable Ryanair aircraft capacity. Kyiv airport's failure to honor commitments will result in the loss of over 500,000 customers and 400 airport jobs in the first year alone, which would have provided a significant boost to the Ukrainian economy. We regret also that Lviv airport has fallen victim to Kyiv airport's decision," Ryanair Chief Commercial Officer David O'Brien said.

Regrettably, Kyiv airport has instead chosen to protect high fare airlines (including Ukraine International Airlines) and deprive Ukrainian consumers and visitors of access to Europe's lowest air fares and widest route network. As a result, Ryanair has no choice but to cancel four new Kyiv routes and seven new Lviv routes, he said.

"Ryanair will now transfer this capacity to competing markets, such as Germany, Israel and Poland instead. Ryanair will grow from 130 million passengers this year to 200 million passengers by 2024 and retains the hope that Ukraine might participate in this growth at some point in the future," the report reads.