Air Armenia to resume flights in early May
10.03.2015,
20:42
Air Armenia is planning to resume operating its flights, Sirakan Hambardzumyan, head of the air company's marketing department, told ARKA News Agency on Tuesday.
YEREVAN, March 10. /ARKA/. Air Armenia is planning to resume operating its flights, Sirakan Hambardzumyan, head of the air company's marketing department, told ARKA News Agency on Tuesday.
«The flights are planned to be resumed in early May, and March flights are postponed for May for technical reasons,» he said.
In his words, this decision is not final, since there is no summer scheme for flights though schedule for May is ready. Hambardzumyan said the company will use at least two aircrafts for operating these flights.
On December 19, 2014, Air Armenia CEO Arsen Avetisyan said the company would resume its flights in the second half of March 2015.
In late October 2014, the air company's administration decided to take drastic steps to restructure finance and change flight scheme.
The air company ceased operating flights. Air Armenia said earlier that information released by media sources about the company's problems led to a 80-percent fall in sales, which contracted earnings to critical minimum.
East Prospect Fund, a new investor and shareholder having 49% of Air Armenia's shares, promised to invest $30 million in the company and to get new aircrafts for the company to increase their number to five.
After Armavia, Armenia’s national air company, launched its bankruptcy recognition procedure on April 1, 2013, Air Armenia that operated before only cargo charter flights embarked on passenger transportation.
East Prospect Fund is a licensed financial organization registered in the British Virgin Islands. The fund's assets are estimated by its representatives at $2.5 billion. ---0-----
