Flights impossible, financial restructuring required – Air Armenia
30.10.2014,
11:03
The management of Air Armenia made a decision about financial restructuring and changing the flight schedule before December 20, the company’s press office reported.
YEREVAN, October 30. /ARKA/. The management of Air Armenia made a decision about financial restructuring and changing the flight schedule before December 20, the company’s press office reported.
The press office said the media allegations about problems in the company led to an 80% reduction in sales, which, in turn, makes the company suffer a critical drop in profits.
“It is currently becoming impossible to carry out flights”, according to the report.
The company will focus on most demanded directions and will try to attract new funds, get back its two A320 planes that are in maintenance now and resume flights as per the schedule from December 20, says the report.
The company made this decision after a year of operations in the Armenian market and passenger flights to Russia and Europe.
This year was full of both achievements and unpleasant surprises when attempts were made to hamper company’s operations for winding up the only Armenian air carrier and creating favorable conditions for overseas air companies, says the report.
Apart from this, the statement by the Russian state corporation of air traffic about suspension of cooperation with Air Armenia caused serious financial damage to the company and harmed its prestige, says the report.
The allegations created panic among passengers, debtors and creditors. Many passengers returned their tickets, creditors canceled earlier agreements and demanded their money back, debtors refused to pay costs of the tickets bought before, according to the report.
Apart from this, the company is now using only one aircraft for all the flights as the others are undergoing technical maintenance in Holland.
The air company expresses its gratitude to its faithful passengers and partners and apologizes for the inconvenience.
Air Armenia is the only company at the local market of air transportation. Armenia’s previous national carrier Armavia went bankrupt in April 2013. –0--
The press office said the media allegations about problems in the company led to an 80% reduction in sales, which, in turn, makes the company suffer a critical drop in profits.
“It is currently becoming impossible to carry out flights”, according to the report.
The company will focus on most demanded directions and will try to attract new funds, get back its two A320 planes that are in maintenance now and resume flights as per the schedule from December 20, says the report.
The company made this decision after a year of operations in the Armenian market and passenger flights to Russia and Europe.
This year was full of both achievements and unpleasant surprises when attempts were made to hamper company’s operations for winding up the only Armenian air carrier and creating favorable conditions for overseas air companies, says the report.
Apart from this, the statement by the Russian state corporation of air traffic about suspension of cooperation with Air Armenia caused serious financial damage to the company and harmed its prestige, says the report.
The allegations created panic among passengers, debtors and creditors. Many passengers returned their tickets, creditors canceled earlier agreements and demanded their money back, debtors refused to pay costs of the tickets bought before, according to the report.
Apart from this, the company is now using only one aircraft for all the flights as the others are undergoing technical maintenance in Holland.
The air company expresses its gratitude to its faithful passengers and partners and apologizes for the inconvenience.
Air Armenia is the only company at the local market of air transportation. Armenia’s previous national carrier Armavia went bankrupt in April 2013. –0--
