Domestic air carriers may obtain a license for the commercial transport of passengers and/or cargo provided that Ukraine, legal entities of Ukraine and/or resident individuals own more than 50 percent of the authorized capital (block of shares) of the enterprise, unless otherwise provided by international agreements of Ukraine.
"Article 92. General conditions of licensing
1. An air carrier that performs transportation of passengers and / or cargo for a fee and / or hire must have a license to carry out activities for the transportation of passengers and / or cargo by air, issued by the authorized body for civil aviation in accordance with Ukrainian legislation.
2. Carriage of passengers, cargo for a fee and / or hire without a license is prohibited.
[...]
Article 93. Provision of the air carrier [...]
4. An air carrier has the right to obtain a license provided that Ukraine, legal entities of Ukraine and / or resident individuals own more than 50 percent of the authorized capital (block of shares) of this enterprise, unless otherwise provided by international agreements of Ukraine.
[...]
Article 95. Conditions of air transportation by a foreign air carrier
1. In order to carry out air transportation, a foreign air carrier must have a relevant license and a certificate from the relevant state body of the state in which it received the license. [...]" (Air Code (№ 3393-VI of 19.05.2011), last amended by Law № 759-IX of 13.07.2020, Articles 92, 93 and 95 [google translation])
Air Code (№ 3393-VI of 19.05.2011), last amended by Law № 759-IX of 13.07.2020, Articles 92, 93 and 95
[<a href="https://zakon.rada.gov.ua/laws/show/3393-17/ed20200807#Text">Air Code</a>]