Air Armenia rehabilitation under way
15.07.2016,
14:15
Air Armenia company is implementing a rehabilitation program now, Sirakan Hambardzumyan, the air company’s marketing director, told ARKA News Agency.
YEREVAN, July 15. /ARKA/. Air Armenia company is implementing a rehabilitation program now, Sirakan Hambardzumyan, the air company’s marketing director, told ARKA News Agency.
Zhoghovurd newspaper reported yesterday that Air Armenia will be liquidated in accordance with a court decision and that the bankruptcy formalization is under way.
Hambardzumyan said that the word of the beginning of the bankruptcy process is not new.
In his words, the court-upheld rehabilitation program is being implemented now.
“We are continuing the process,” he said. “In accordance with the program, we applied to the General Department of Civil Aviation to restore our certificates.”
However, the General Department of Civil Aviation says it has received no applications from Air Armenia.
The court’s decision to announce Air Armenia bankrupt, which has been made in 2015, was based on a suit filed by HSBC Bank Armenia – the air company owed €2,150,000 to the bank.
Air Armenia disputed the court decision on bankruptcy, but the Court of Appeal declined the air company’s motion leaving the first-instance court’s decision unchanged, and the bankruptcy formalization process began.
The company’s debts totaled $16 million by September 2015. Air Armenia also owed $2.5 million to Ala International, and $400,000 to Gagik Tsarukyan, prominent Armenian entrepreneur.
Air Armenia is also indebted to Zvartnots Airport, Ameriabank, Converse Bank and Ingo Armenia insurance company. --0---
Zhoghovurd newspaper reported yesterday that Air Armenia will be liquidated in accordance with a court decision and that the bankruptcy formalization is under way.
Hambardzumyan said that the word of the beginning of the bankruptcy process is not new.
In his words, the court-upheld rehabilitation program is being implemented now.
“We are continuing the process,” he said. “In accordance with the program, we applied to the General Department of Civil Aviation to restore our certificates.”
However, the General Department of Civil Aviation says it has received no applications from Air Armenia.
The court’s decision to announce Air Armenia bankrupt, which has been made in 2015, was based on a suit filed by HSBC Bank Armenia – the air company owed €2,150,000 to the bank.
Air Armenia disputed the court decision on bankruptcy, but the Court of Appeal declined the air company’s motion leaving the first-instance court’s decision unchanged, and the bankruptcy formalization process began.
The company’s debts totaled $16 million by September 2015. Air Armenia also owed $2.5 million to Ala International, and $400,000 to Gagik Tsarukyan, prominent Armenian entrepreneur.
Air Armenia is also indebted to Zvartnots Airport, Ameriabank, Converse Bank and Ingo Armenia insurance company. --0---
