Some $50-$100 million enough to set up a state-owned national airline for Armenia

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Economy

10.04.2013, 15:41

Shahen Petrosian, a former chief of Armenia’s Chief Aviation Department, says the government can create a new state-owned airline.

Some $50-$100 million enough to set up a state-owned national airline for Armenia

YEREVAN, April 10, /ARKA/. Shahen Petrosian, a former chief of Armenia’s Chief Aviation Department, says the government can create a new state-owned airline.

Speaking at a news conference today he said this may cost from $50 million to $100 million. This amount, he said, is enough to set up a national airline

replicated from European’s EasyJet or Ryanair, which spend little time at airports.

Petrosian said the best option is to have two airlines, one of which should be private to enhance competition.

Armenia’s national airline Armavia terminated its flights to more than 40 cities in Europe, the former Soviet Union and the Middle East as it filed for bankruptcy on April 1, citing its inability to end massive losses and repay debts to Yerevan’s Zvartnots airport and other partners. -0-

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