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Armenia to put special emphasis on formation of national air carrier, the matter can be resolved in two years
... new players. “We managed to attract several European airlines to the Armenian market at budget prices and provide affordable tickets for citizens,” Papikyan said. National Carrier However, in his words, the ministry does not intend to limit itself to ... ... with the Civil Aviation Committee of Armenia and six Armenian airlines. History of National Carriers After the bankruptcy of Armavia Air Company in 2013, a new company, Air Armenia, announced its intention to enter the Armenian market. The company operating ...
06/10/2020Head of Armenian Civil Aviation Committee sees problem in creation of national carrier
... is tightening," she said. "Europe will look like America - it will have less air companies and they will play a big role. If you want to compete, you should have 200 to 300 airplanes." National Carrier Problem After the bankruptcy of Armavia Air Company in 2013, a new company, Air Armenia, which operated only charter cargo transporting flights to the CIS, Europe, Middle East, Asia and Africa, but wanted to embark on passenger transportation, expressed intention to come to the Armenian ...
02/13/2020Existence of national air carrier in Armenia is still premature - Revazian
..., which we have presented also to a potential investor, but I think time is needed and it is still early to designate the national air carrier status to anybody, taking into account the negative experience in the past," she said. Revazian said Armavia, which once was Armenia's national air carrier, quit the market leaving many unpaid debts abroad, inflicted damage to Armenia's reputation. She said two Armenian companies operate at the market now, but it is necessary to give them time for accomplishment,...
07/15/2019Mikhail Bagdasarov’s Mika Corporation recognized as bankrupt
... bankruptcy matter. All those to whom the corporation owes money may file their claims over one month. Mika Corporation, once engaged in selling petrol and diesel, has not being functioning since 2014. In the same 2014, another company owned by Bagdasarov, Armavia Air Company, was recognized as a bankrupt. Over the two years after the Armavia bankruptcy recognition, Bagdasarov has not found any buyer for the company to repay debts. Armavia’s debt in dollars alone is assessed at $90 million. The authors ...
11/25/2016Alliance Airline wet-leases Nord Wind to operate regular flights from Moscow to Yerevan
... Moscow, including all taxes, is 51,000 drams (a little over $100). "Some companies announce a $49 ticket price, but after buying the ticket and paying additional taxes, baggage and other fees, the ticket price ups to $150. The final price of our tickets, as I have said is 51,000 drams,’ he said. The founder and 100% shareholder of Alliance Airlines is Ararat Sargsyan, a former CEO of Armavia airline. A wet lease is a leasing arrangement whereby one airline (the lessor) provides an aircraft, complete crew, maintenance, and insurance (ACMI) to another airline or other type of business acting as a broker of air travel (the lessee), which ...
06/06/2016Chief Civil Aviation Department unveils list of Armenian airlines, eligible to operate flights
... have each more modern Airbus A-320 and Boeing B-737 respectively. An individual Tigran Gabrielyan is the owner of Jetstream 3201. According to the report, Armenia Airways owns a four-seater single-engine Diamond Star DA40. Also, Armenian Airlines and Armavia, both declared bankrupt, owe Soviet-made IL-86 and CRJ-200, respectively Air Operator Certificate (AOC) is a document, which authorizes the company as an aircraft operator. The AOC holder also gets an Air Carrier Certificate, which provides the ...
04/02/2016Air Armenia intends to dispute court decision that declares it bankrupt
... is under way now – it is almost ready,» the representative of the company said. «We are going to continue our activity.» In his words, Air Armenia intends to resume operating regular flights. After the beginning of the bankruptcy procedure of Armavia, former national carrier of Armenia, (from April 1, 2013), Air Armenia, which before operated only charter transportations to CIS, Europe, Middle East, Asia and Africa countries, started operating passenger flights. It embarked on passenger flights ...
11/24/2015New Armenian airline plans to start operation in 2016 March
... near Moscow, adding also that the airline plans to bring their number up to six by 2017. The first flight is scheduled for 27 March, 2016. The airline personnel comprise 14 people, all of whom, like Sargsyan himself, worked in the past for now defunct Armavia air carrier. At the initial stage, the company plans to carry out flights to three destinations: Moscow, Beirut and Tehran, and add later more routes to other Russian cities and Ashgabat, the capital of Turkmenistan. Sargsyan declined to name ...
10/09/2015New stockholder of Air Armenia invests $68.6 million in the company
... 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 ...
08/14/2015Georgia’s air company to resume operating flights between Yerevan and Tbilisi soon
... reported Thursday referring to the Georgian economy ministry’s Civil Aviation Agency. The flights will be operated four times a week, one ticket prices will start from €55. Regular air communication between Armenia and Georgia was ceased in 2011. Armavia, the then Armenian air company that operated regular flights between the two cities, explaining its decision, said this route was not profitable in winter season. Airzena was established in September 1993. It initially served charter flights ...
06/25/2015VTB bank (Armenia) selling Hrazdan cement plant
... Hrazdan, the bank's chief executive Yuri Gusev said in an interview with a local newspaper 'Golos Armenii' (Voice of Armenia). The Russian-owned bank became the owner of the plant after its previous owner Mikhail Baghdasarov declared the bankruptcy of Armavia airline, which he also owned. In 2014 the bank provided the plant with a loan that was instrumental in resuming its operation. The plant's products are sold in Iran, Iraq, Europe and the Russian Federation. According to Gusev, VTB Bank (Armenia) ...
03/12/2015Air Armenia to resume flights in early May
... 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 ...
03/10/2015Air Armenia asking government to exempt Armenian air companies from air tax
... to investments worth 30 million dollars and is planning to increase the number of aircraft in the fleet to 5. Air Armenia began operating commercial passenger flights in 2013 after the bankruptcy and liquidation of Armenia’s national air carrier Armavia. East Prospect Fund is a licensed financial organization registered in the British Virgin Islands. It is an investment partnership of a group of individuals and legal entities. The assets managed by the fund are assessed at $2.5 billion. –0—
12/20/2014New shareholder of Air Armenia pledges $30 million investment
... October, Air Armenia decided to restructure its finances and change the flights schedule after seeing an 80 percent drop in air tickets sales. In a statement in late October Air Armenia blamed the dramatic drop on a ‘panic’ among investors and customers ... ... began operating commercial passenger flights in 2013 after the bankruptcy and liquidation of Armenia’s national air carrier Armavia. -0-
12/19/2014Air Armenia declines comments on new owners
... October, Air Armenia decided to restructure its finances and change the flights schedule after seeing an 80 percent drop in air tickets sales. In a statement in late October Air Armenia blamed the dramatic drop on a ‘panic’ among investors and ... ... began operating commercial passenger flights in 2013 after the bankruptcy and liquidation of Armenia’s national air carrier Armavia. -0-
12/15/2014Flights impossible, financial restructuring required – Air Armenia
... 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 ... ... 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--
10/30/2014Air Armenia denies “verge of bankruptcy”
... the report. Air Armenia apologizes to its passengers for the inconvenience and claims all the flights are carried out as scheduled. 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--
10/10/2014Air Armenia suspends temporarily flights to Frankfurt
... maintenance. The airline said it continues operating all other regular flights to Russia and Europe in accordance with the schedule. Air Armenian is the only company at the local market of air transportation. Armenia’s previous national carrier Armavia went bankrupt in April 2013. The Armenian government responded to it by liberalizing the domestic civil aviation sector. Air Armenia currently flies to 9 destinations in Russia and Europe. -0-
10/08/2014Air Armenia pays overdue debts and continues regular flights
... due to the Ukraine crisis. He said Air Armenia would repay the debt in Russian rubles and through another Russian bank by September 21. Air Armenian is the only company at the local market of air transportation. Armenia’s previous national carrier Armavia went bankrupt in April 2013. The Armenian government responded to it by liberalizing the domestic civil aviation sector. Air Armenia currently flies to 10 destinations in Russia and Europe. -0-
09/22/2014Mika sporting facility placed under management of Armenian finance ministry
... finance, deputy finance minister Pavel Safaryan said at a government session today. Under a government decision adopted today, the ministry of finance is proposed to acquire the facility in exchange for the tax liabilities of 9.045 billion drams of Armavia airline and Mika Corporation if these properties are not sold through compulsory auctions. The initial value of the complex put up for sale on August 25th by the Service for Compulsory Enforcement of Judicial Acts is a little over 9 billion ...
08/28/2014Mika sports complex in Yerevan put up to auction
... that the auction will continue until the 4th of September. The total area of the complex is 3,658.9 sq.m. The stadium has 7250 seats. The complex was built in 2008. The complex is owned by businessman Mikhail Bagdasarov. Bagdasarov also owned Armavia airline that suspended flights from 1 April 2013 to begin the bankruptcy proceedings. -0
08/26/2014Armavia’s aircraft put on sale
A Bombardier CRJ 200 plane owned by Armenia’s former national airline Armavia has been put on sale at Grav.am for 700 million drams (about 1.7 million U.S. dollars). YEREVAN, June 26. / ARKA /. A Bombardier CRJ 200 plane owned by Armenia’s former national airline Armavia has been put on sale at Grav.am for ...
06/26/2014Moscow arbitration court rules that Armavia recover 13.5 million rubles debt to Russian Vnesheconombank
The Moscow Arbitration Court has ruled today that former Armenian airline Armavia recover about 13.5 million rubles debt to Russian Vnesheconombank (VEB), RIA Novosti reported. YEREVAN, April 23. / ARKA /. The Moscow Arbitration Court has ruled today that former Armenian airline Armavia recover about 13.5 million rubles ...
04/23/2014Armenia’s airport Zvartnots handles 129,000 passengers in January
... airlines have increased the frequency of flights to all destinations that has pushed air ticket prices down. The airport also said that Air Armenia airline transported in January 2014 some 16,066 passengers by its two aircraft. The former national airline Armavia had transported 18,224 passengers in the first month of 2013, according to the press release. Air Armenia operates charter flights to CIS, Europe, Middle East, Asia and Africa since 2003. Currently it runs 8 Soviet-made aircraft. Zvartnots airport ...
02/04/2014No major changes in Armenia’s aviation market should be expected this year – civil aviation department chief
... policy, most likely due to insufficient financial means. "We are ready to work with all interested parties who wish and are ready to invest in the development of the aviation industry,” said Movsisyan . Armenia's former national air carrier –Armavia –suspended flights from the 1st April 2013 to begin bankruptcy proceedings. It is the second bankruptcy of a national carrier. The first in 2003 was the Armenian Airlines” . Currently, there is only one local operating airline - Air Armenia....
01/21/2014Rosneft declines comments on possible acquisition of Armenian Mika Limited
... news agency claimed citing its own sources that Rosneft acquired Mika Limited’s Armenian assets- gas stations, oil bases and office space. Mika Limited is owned by businessman Mikhail Bagdasarov. Bagdasarov also owned Armenia’s national airline Armavia that suspended flights from the 1st of April 2013 to begin the bankruptcy procedure. -0-
01/10/2014Expert: collapse of Armenia’s air carrier one of biggest losses for national aviation and security
... Armenia’s national air carrier has become one of the biggest losses for national aviation and security, Izabella Muradyan, a member of the presidential council’s commission on air transport, said Friday at a news conference. On April 1, 2013, Armavia, the only national air company of Armenia canceled all its flights and started bankruptcy procedure. “This has stricken hard at the country, since the lack of own air carrier have very adverse impacts in the event of disasters or wars,...
12/13/2013Switching to open skies policy will make Zvartnots airport cut its ground service prices -study
... chairman of the Armenian Union of Travel Agents, the reason why foreign airlines refuse to fly to Armenia is high ground service prices charged by Zvartnots airport. High ground prices were also cited as one of the causes making former national carrier Armavia to declare itself bankrupt. -0-
12/10/2013minister: liberalization of aviation in Armenia may drive air ticket prices 10% down
... of new jobs and ensure a 20-to-30-percent growth in passenger and cargo transportation. “Of course, this will come not immediately – I think at least one year is needed to achieve these indicators,” he added. On April 1, 2013, Armavia, the only national air company of Armenia, stopped operating flights and launched its bankruptcy procedure. Later, the Armenian government approved the strategy of a stage-by-stage liberalization of this area. The document implies at least ...
10/23/2013Air Armenia ready to participate in a tender to choose national air carrier
... Harutyunyan told reporters today after the company flew the first passenger aircraft from Yerevan to Russian Rostov-on-Don. Air Armenia is the first Armenian airline permitted by the government to operate passenger flights after the national airline Armavia decided to suspend flights on April 1 and begin bankruptcy proceedings. The flight from Yerevan to Rostov –on-Don was made by a leased Boing 737-500. According to Vahan Harutyunyan , the company will lease an Airbus A-320 in several ...
10/23/2013Air Armenia operates maiden flight to Russian Rostov-on-Don
... Armenia’s capital Yerevan to Russian Rostov -on-Don, marking its entry into Armenia’s market of passenger traffic. Air Armenia is the first Armenian airline permitted by the government to operate passenger flights after the national airline Armavia decided to suspend flights on April 1 and begin bankruptcy proceedings. The flight from Yerevan to Rostov –on-Don was made by a leased Boing 737-500. According to the airline’s president Vahan Harutyunyan , the company will lease an ...
10/23/2013U.S. Ambassador expects interesting autumn in Armenia
... expected to initial association agreements with the European Union. The U.S. diplomat also added that this autumn Armenian authorities will have to make important decisions regarding civil aviation sector and choose a national air carrier to replace Armavia Airline. The ambassador’s remarks were made at a meeting of religious leaders brought together in Yerevan by the Council of Europe Inter-Cultural Dialogue. The ambassador spoke also about stepping up civic activity in Armenia in light of ...
09/02/2013“Expensive” Armenian sky
... Recently many Armenian citizens prefer flying abroad not from Armenian “Zvartnots” but from Tbilisi airport, as air tickets from Georgia cost considerably less than from Armenia. Even several hours’ driving distance to Tbilisi and need ... ... dollars from Tbilisi. “Zvartnots” say they are not to blame Earlier representatives of bankrupted national air company Armavia said air ticket prices were high due to expensive airport service. Yet, the management of the airport says service prices ...
08/08/2013Administrative court puts off hearing on Armavia’s case for a month
The administrative court delayed the hearing on the lawsuit against Armavia for a month. YEREVAN, July 30. /ARKA/. The administrative court delayed the hearing on the lawsuit against Armavia for a month. Earlier State Revenue Committee submitted plead to the court to oblige Armavia to pay 7 billion 35 million 703 thousand ...
07/30/2013Armenian and Lebanese Chambers of Commerce AIM at increasing turnover
... will help increase the commodities turnover between the countries. Another factor that may contribute to wider trade is the re-opened Beirut-Yerevan flight, he said. The direct flights were suspended due to bankruptcy of Armenian national air carrier, Armavia, as fr om April 1, 2013. On July 5 Middle East Airlines resumed Beirut-Yerevan flights. The fact that Armenia is blockaded by neighboring Turkey and Azerbaijan creates certain difficulties in expanding the turnover, Sargsyan said. The head of ...
07/09/2013Direct flights between Yerevan and Beirut to resume July 5
... ministers and current members of the Lebanese Parliament of Armenian origin, the deputy head of the Central Bank of Lebanon Haroutiun Samuelyan and others. Direct air flights between Lebanon and Armenia were terminated by Armenia’s national airline Armavia that ceased flights from the 1st April 2013. -0-
07/03/2013Air Armenia and Armenian International Airlines likely to become Armenia’s national air carriers
... written proposals to the government asking it to help it avoid bankruptcy with tax breaks and other measures that would support its renewed operations. It particularly said it could resume flights if it were exempted fr om a fixed $25 tax on all tickets, got a 30 percent price discount for airport ground services and were allowed to import fuel for its own planes. Armavia operated more than 40 cities in the former Soviet Union, Europe and the Middle East which were discontinued immediately after the announcement of the move on April 1. Ghazarian said Armavia has all the necessary infrastructure and may return to ...
06/18/2013Armenian government approves stage-by-stage air service liberalization strategy
... will spur competition in the civil aviation area. Air routes will be provided to air companies via tenders. Maybe, two companies will operate flights to the same directions. The civil aviation chief also said that Armenian air companies will use Armavia’s specialists and its experience. On April 1, 2013, Armavia, Armenia’s national air carrier, stopped operating flights and launched its bankruptcy procedure. ---0----
06/06/2013Fly Dubai to increase flights to Armenia from 4 to six a week
... from current four to six a week from June 23. Head of the airline’s office in Yerevan, Vachagan Sargsyan, said the increase was permitted by the Armenian Chief Civil Aviation Department following the bankruptcy of Armenia’s national air carrier Armavia. Armavia stopped flights from 1st April of 2013 to begin bankruptcy proceedings. Following this, the government began talks with foreign airlines to increase the number of flights to Armenia. Sargsyan said the price of a two-way ticket from ...
06/05/2013Armenia’s Armavia selling its aircrafts and property
... secretary, told ARKA News Agency. On April 1, 2013, Armavia stopped operating its flights and launched bankruptcy procedure. “The sooner we sell our aircrafts and property, the sooner we’ll pay our employees’ back wages, refund the price of tickets sold and repay our debt,” Avetisova said. She said that Armavia has some debtors fr om which the company expects money. Avetisova found it difficult to say how many aircrafts Armavia put up for sale. According to Armavia’s official website, the company has eight aircrafts, including CRJ, Boeing and Airbus ...
05/29/2013Armenia’s national air company Armavia owes about $5.536 million to Armenia’s international airport Zvartnots
Armenia’s national air company Armavia owes about $5.536 million to Armenia’s international airport Zvartnots that in 2001 was handed over by the government to Argentinean American International Airports owned by Argentinean citizen of Armenian descent Eduardo Eurnekian for a 30-year ...
05/24/2013Importance of air traffic doubles with limited overland chances: Armenian president
... in applying international standards. The sides exchanged views on civil aviation security in the region. The key overland route connecting Armenia with Russia and Europe is via Georgia. The motor road across the border with Iran is another way out. Armavia national air company halted its operations and started bankruptcy as form April 1. During 2012, three European air carries, British Airways, LOT – Polish Airlines and Air Baltic left the Armenian market. -0-
05/24/2013Armenian government sues Armavia
Armenia’s state revenues committee, on behalf of the government, took a legal action against Armavia air company in relation to so called air tax, Armenia’s minister of finance David Sargsyan said in the parliament Wednesday. YEREVAN, May 23. /ARKA/. Armenia’s state revenues committee, on behalf of the government, took a legal action ...
05/23/2013Armenia’s antimonopoly commission to hold air companies accountable for unjustified price increase
... companies accountable for raising prices for tickets unfairly, the commission press office reported. YEREVAN, May 15. /ARKA/. Armenia’s state commission for economic competition intends to hold air companies accountable for raising prices for tickets unfairly, the commission press office reported. The commission is currently conducting an air market study based on mass media reports and customer complaints about rising air ticket prices for certain directions after suspension of Armavia’s operations. The commission invited representatives of some twenty air companies flying to and from Armenia Tuesday to find out reasons for recent price increases. “All air companies, including overseas air carriers, are obliged to respect ...
05/15/2013Creditor banks agree to write off penalties and fines of Armavia
The creditor banks had agreed to write off the penalties and fines of Armenia’s national air carrier, Armavia company, Transport Communications officer Isabella Muradyan said in an interview with ARKA news agency. YEREVAN, May 8./ARKA/. The creditor banks had agreed to write off the penalties and fines of Armenia’s national air carrier, Armavia ...
05/08/2013Armenian passengers will have to buy expensive air tickets this summer, expert says
... interview to ARKA. “The question is how high the ticket prices will go and whether our leadership is conscious of the fact we will be losing the market and leverage over price formation if we do not have a national air carrier”, she said. Armavia national air company halted its operations and started a bankruptcy procedure as from the beginning of April. Officials say ticket prices will not rise, but foreign air companies have already stopped selling “cheap class” tickets, Muradyan said. This means ticket prices became much more expensive now, she added. Muradyan also pointed out that LOT - Polish Airlines and Air Baltic left the Armenian market in 2012 probably due to financial problems. British airways that departed ...
05/07/2013Armavia presents plan of rehabilitation actions
Armenia's national airline Armavia that suspended flights from the 1st of April 2013 to begin the bankruptcy proceedings, submitted to the presidential Public Council a plan of actions which it says is designed to rehabilitate the company, according to Public Council chairman Vazgen ...
04/25/2013Armavia’s departure had no effect on tourism in Armenia, deputy minister claims
Suspension of Armavia’s operations and start of the bankruptcy procedure have not affected Armenia’s tourism sector, deputy minister of economy Ara Petrosyan told journalists Friday. YEREVAN, April 19. /ARKA/. Suspension of Armavia’s operations and start ...
04/19/2013Yakutia air company agrees to carry first group of people who have tickets for Armavia’s Yerevan-Krasnodar flights
... willingness to provide tickets to these people. Barseghyan said the Civil Aviation Department has already given the Yakutia the list of 220 passengers of Armavia’s Yerevan-Krasnodar flights. These people may visit the Yakutia’s office in Yerevan for tickets. Armavia, Armenia’s national air carrier stopped operating flights on April 1, 2013, and embarked on its bankruptcy procedure. Yakutia Air Company operates three flights from Yerevan to Krasnodar and back every day. Prices for one ticket range from ...
04/17/2013Armenian “Krunk Air” ready to pay 750 million euros for eight aircrafts
... financial sources though. He said “there is no secret in it, and the certificate may be obtained within two months”. Poghosyan also said that he had been general director of “Gorizont” company having five aviation licenses, particularly for selling tickets and etc, but not being able to start operations due to lack of funds with the founder. Earlier, Armenian mass media reported that Krunk Air may replace Armavia who started a bankruptcy process. Yet, according to the mass media allegations, there is no Krunk Air company registered, head of Armenia’s chief civil aviation department said. -0-
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