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NEWSPAPER: TWO-THREE AIRLINES WILL EMERGE IN THE ARMENIAN MARKET
25/04/2013 14:22:00 arminfo.info
A Yerevan-based Haykakan Zhamanak Daily reports that 2-3 companies
will replace Armavia airline that has been announced bankrupt.
The companies are not named, as negotiations and discussions on the
given issue are currently underway. Sources in the government report
that mechanisms of activity are being developed taking into account
the current competition with Russian air companies in the market.
On April 25 the Public Council will conduct hearings on the situation
in the civil aviation fielding the country.
Armavia national air carrier has launched bankruptcy procedure and
stopped flights due to debts. The owner of Armavia, President of Mika
Limited Mikhail Bagdasarov said in an interview with ArmInfo that
the company's debt does not exceed $50 million, with the current debt
being the main part of it. Armavia's shareholders are MIKA LTD - 34.99%
and Aviafin LLC - 65.01%. Bagdasarov set up Armavia in 1996 and sold
it to Russian S7. In 2005 pressured by the Armenian tax authorities,
S7 gave the company back to Bagdasarov. It was the first to exploit
SSJ-100. Armavia carried out over 100 flights to over 40 destinations
in 20 countries.
25/04/2013 14:22:00 arminfo.info
A Yerevan-based Haykakan Zhamanak Daily reports that 2-3 companies
will replace Armavia airline that has been announced bankrupt.
The companies are not named, as negotiations and discussions on the
given issue are currently underway. Sources in the government report
that mechanisms of activity are being developed taking into account
the current competition with Russian air companies in the market.
On April 25 the Public Council will conduct hearings on the situation
in the civil aviation fielding the country.
Armavia national air carrier has launched bankruptcy procedure and
stopped flights due to debts. The owner of Armavia, President of Mika
Limited Mikhail Bagdasarov said in an interview with ArmInfo that
the company's debt does not exceed $50 million, with the current debt
being the main part of it. Armavia's shareholders are MIKA LTD - 34.99%
and Aviafin LLC - 65.01%. Bagdasarov set up Armavia in 1996 and sold
it to Russian S7. In 2005 pressured by the Armenian tax authorities,
S7 gave the company back to Bagdasarov. It was the first to exploit
SSJ-100. Armavia carried out over 100 flights to over 40 destinations
in 20 countries.