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. Last Updated: 07/27/2016

Kiev's Growing Airline

KIEV () -- Ukraine International Airlines, bolstered by a cash influx from Swissair and Austrian Airlines, hopes to strengthen its position in the West European market.

"We have become part of an alliance. This will definitely improve our position and reputation in the world," UIA President Vitaly Potyemsky said in an interview Monday. Swissair announced Friday that it and Austrian Airlines had taken an 18.37 percent stake in UIA, investing $9 million.

Under IMF agreements with Lithuania, the currency board must be in place until at least September 1997.

Since the breakup of the Soviet Union, the sea has been the subject of an intense legal battle over its huge oil and gas reserves.