On the southern part of the air base, near the end of a large dispersal runway where military aircrafts are on static display.

A black, polished, granite, rounded rectangular stone monument surmounted on a granite plinth, set on a pavement that is surrounded by small black pillars. The monument is inscribed in Ukrainian text, incised in gold-leaf lettering, on the front and back. The art depicted on the front of the monument are female anti-aircraft machine gunners on a combat posture followed by the list of names who were killed during Operation Frantic. The last two names are Americans, Lieutenants Raymond Estle and Joseph Lukacek. On the back is another dedicatory message.

From https://www.aviationpress.co.uk:

Poltava Air base was activated in 1940 but fell to German forces in 1941 and they occupied it until 1943. In 1944 the American forces used the airfield as a heavy bomber staging field. It was used by the Eighth and Fifteenth US Air Forces for seven shuttle bombing missions known as Operation Frantic. The concept of the operation was a bombing campaign against targets in Eastern Europe and the Balkans. The operation lasted only four months. The airfield was poorly defended and there were significant losses to German attacks and with increasing inter-Allied hostility and changing strategic requirements there was soon a reduced need for Ukrainian bases.

After the end of the Second World War the airfield was rebuilt as a Soviet base with a permanent single runway and hard standings.

The writing is in Ukrainian and the rough translation on the top is: 

“Glory to the heroes (ground personnel and pilots - everyone), who were killed on the territory of Poltava airdrome during the Operation Frantic on the night of 21-22 of June 1944.”

On the back of the monument, the rough translation is:  “Here, on the territory of the Poltava airdrome on the night of 21-22 of June 1944, heroically defending the Fatherland, the fighting personnel of the 169th special purpose airbase and other combat units went into an unequal combat against 150 Fascists' bombers. On this tragic night were dropped 120 tons of different types of bombs and 15 thousand antipersonnel mines.  Reverence and respect for all, who heroically was killed in the struggle for peaceful and happy life of future generations.

This monument was installed by the community of Poltava and the personnel of 215th aviation commandant's office commemorating 65th anniversary of the victory in the Great Patriotic war.

May 9th 2010."