Armenian businessman Tsarukyan intends buying Armavia : newspaper

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15.03.2013, 13:54

Hraparak newspaper (Square) reported Friday some details had arisen from the meeting between Gagik Tsarukyan, Prosperous Armenia Party leader, and Armavia air company head Mikhail Bagdasarov.

Armenian businessman Tsarukyan intends buying Armavia : newspaper

YEREVAN, March 15. /ARKA/. Hraparak newspaper (Square) reported Friday some details had arisen from the meeting between Gagik Tsarukyan, Prosperous Armenia Party leader, and Armavia air company head Mikhail Bagdasarov.

“Tsarukyan intends to buy Armavia and convinces Bagdasarov to declare bankruptcy of the company. However, the government is strongly against such deal as salary debts can instigate the company employers to go on strike. That’s why Armavia can be sold only after debt issues are resolved,” according to the article.

Hraparak also highlighted some two foreign companies –American and Italian, are also holding talks over the deal.

Orakarg newspaper (Agenda) reported yesterday that the government of Armenia hadn’t decided yet over extension of Armavia company’s license period which expired on March 14.

Armavia was established in 1996. In 2005, MIKA Limited President Mikhail Baghdasarov, one of Armenia’s most prominent entrepreneurs, became the sole owner of the company. Armavia operates more than 100 flights a week to 40 destinations in 20 countries. The company operates Airbuses, CRJs, Boeings and Russia-produced Sukhoi Superjets. -0-

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