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Aerosvit Airlines was a member of IATA and an IATA IOSA certified carrier. Its main base was the Boryspil Airport. The airline was established in March 1994 and started operations in April the same year with international flights from Kyiv in co-operation with Air Ukraine. At December 2012, Aerosvit was the largest carrier in Ukraine. Bankruptcy procedures began in January 2013, and in February 2013, AeroSvit ceased operations.
One of Aerosvit's original Boeing 737-200 aircraft departs Boryspil International Airport in 2008.
The airline was established on 25 March 1994, and started operations in April that year with flights from Kyiv to Athens, Larnaca, Tel Aviv, Odesa and Thessaloniki in co-operation with Air Ukraine. In October the same year, the carrier started dry-leasing some Boeing 737-200s in connection with the addition of Moscow into the route network. In 1995, new scheduled flights from Kyiv to Almaty, Ashgabad, and Riga were launched, laying the foundations for it to become a transit airline. In 1996, Yekaterinburg, Kharkiv, Lviv, and Simferopol were added to the airline's network. Also in 1996, the airline became a member of the International Air Transport Association (IATA). By 1997, Aerosvit Airlines became a member of IATA Clearing House and purchased its first Boeing 737-200 aircraft. By 1999, Aerosvit had acquired a third Boeing 737-200 aircraft and scheduled flights to Budapest, Sofia and Istanbul were launched.
In 2000, two more Boeing 737-300 aircraft joined Aerosvit Airlines' fleet. Scheduled flights to Prague and Warsaw were launched, and Aerosvit Airlines carried more passengers than any other Ukrainian airline (over the calendar year). In 2002, a further three Boeing 737-500 aircraft joined the fleet, as also did the first Boeing 767-300ER —a 350-seater machine that previously belonged to SAS— on a long-term lease from Boeing Capital, aimed at starting operations to Bangkok. The airliner became the first Western-built wide-body one to be operated by a Ukrainian carrier. Also in 2002, Aerosvit took over the long-haul services previously operated by Air Ukraine.
The Kyiv–New York–Kyiv route was launched in 2003 with a twice weekly service. Later that year, flights to Toronto and Delhi began. In this year, the airline also carried its second millionth passenger. Soon after JAR-145 certification for performing in house maintenance works in accordance with the European Joint Aviation Authorities' requirements was received. With the onset of 2004, Aerosvit increased the number of weekly flights it operated to Bangkok to three and an additional Boeing 737-300 was added to the fleet. Route expansion continued as before, and over the course of the year the number of Aerosvit-operated domestic flights across Ukraine expanded to eleven destinations. However, expansion did not just take place on the domestic market, as Aerosvit introduced new routes from its base in Kyiv, to Beijing, Baku, Chisinau, Cairo, and St. Petersburg. Finally, in 2004, Aerosvit Airlines became the official air carrier of the National Olympic team of Ukraine for the XXVIII Olympic Summer Games held in 2004 in Athens.
Aerosvit's ninth Boeing 737 mid-haul aircraft started operating in 2005, with a tenth being added to the fleet soon after. In the same year, e-ticketing was launched on the route New York-Kyiv and Aerosvit Airlines and Azerbaijan Airlines started code-sharing on the Kyiv-Baku route.
In 2006, the carrier became the 85th worldwide in passing the IATA Operational Safety Audit. In March that year, Naples was added to the route network, and in June the Kyiv–Vilnius and Simferopol–Vilnius routes were launched in codeshare agreement with Lithuania's national carrier flyLAL. In September 2006, Aerosvit was the first airline to operate both inbound and outbound passenger flights at Bangkok Suvarnabhumi Airport. and in October, the airline celebrated the six-millionth passenger carried since it started operations.
In 2007, due to cooperation with Delta Air Lines, the number of destinations in the United States increased, allowing onward travel from New York to cities such as Los Angeles and Portland. It was in the same year that Aerosvit Airlines and Donbassaero began to build (at the initiative of their joint main shareholder Privat Group) the strategic alliance Ukrainian Aviation Group. Also, in this year, the fleet was supplemented with a third long haul aircraft Boeing 767 and eleventh and twelfth mid-range Boeing 737s, whilst the start of code share flights with Belavia on the Kyiv-Minsk route took place. In August 2007, it was announced that a contract was signed with Boeing for the acquisition of seven Boeing 737-800s and purchase rights for another seven in a deal valued at more than US$500 million, the operation marked the company's first direct purchase of aircraft since its foundation. These new aircraft would replace the airline's 13-strong Boeing 737 Classic fleet, the first of them was handed over by the manufacturer in March 2012. In December 2007, the airline began the commercialisation of e-tickets on its website.
At the beginning of 2008, flights from Kyiv to Tbilisi and Almaty were launched by Aerosvit, E-ticketing was introduced on all Aerosvit scheduled flights, and Aerosvit Airlines again became the official air carrier of the Ukrainian National Olympic team for the XXIX Olympic Games held in Beijing. In March 2009, Aerosvit acquired a 70-seater Antonov An-148, which was deployed on domestic routes in June, the first international revenue flight for the type with the airline took place in December that year, covering the Odesa–Moscow route. Also in April 2009, the carrier launched scheduled flights to Astana and Riga.