Im no expert on the Ukrainian economy, but the route by all means could work. Especially now Wizzair are more established in the Ukrainian market.
As before, they launched the routes to LTN when they first moved into the Ukrainian market and were not so well known.
Also Wizzair flew to Ljubljana a few years back from Luton and Brussels, and was dropped completely due to lack of demand. Here we are now, and the route has restarted and successfully operating 3-4 times a week.
I doubt Wizzair will get any time soon, rights to fly between the UK and Moscow...
The UK/Russian agreement, only allows two airlines from each country fly between them. In this case that is Transaero, Aeroflot, British Airways and easyJet have just taken over the right BMI use to have.
You also have the issue that the UK and Russia require nationals from both countries to have visas to enter their borders. I recently looked into a trip on the new easyJet service from LGW, and a single trip tourist visa is around £100!
Would however love to see the route materialise.
Talking of Wizzair, I noticed the airline recently switched all their operations from Glasgow Prestwick to Glasgow International. This has to act a warning to Luton, they need to keep the airline happy and be sure they are offering them value for money.
All it would take is a killer deal from the likes of the new owners of Stansted or even maybe Southend, and I doubt Wizzair wouldn't hesitate in moving. The airline has demonstrated how cost efficient they are in the past, by moving airports in other countries for a better deal or if not getting the deal they want to make cutbacks to schedules.
People might laugh at me mentioning Southend, but they are eager for business, and Wizzair is one of those airlines that thinks about the price first, while happy to try new facilities and consider the inconvenience to the passenger last. Take the move to Warsaw Modlin airport as an example!