Armavia Airlines Goes Under


Armavia Airlines

YEREVAN—Armenia’s national airline, Armavia, has declared the start of bankruptcy proceedings, reported the Associated Press.

The carrier said in Friday’s statement that it will halt flights next week. Armavia currently has 14 aircraft conducting more than 100 flights a week to 20 countries.

Russia’s civil aviation authority said Armavia has an outstanding debt of $1.4 million to Moscow’s Vnukovo airport and smaller debts to two other airports in southern Russia.

Armavia’s owner, Mikhail Bagdasarov, announced his intention to sell the company last year, but has failed to find a buyer. Bagdasarov attributed Armavia’s troubles to the global economic downturn and losses from using a new Russian-made Sukhoi superjet.

10 Responses

for “Armavia Airlines Goes Under”

  1. Hratch says:

    Perhaps the owner should start by correcting his last name to Baghdasarian !

  2. zohrab says:

    i think goverment should step in help armavia get out of its problems and once the airline is in a good position it can repay slowly help one another armenia needs armavia

  3. stephan says:

    How unfortunate? It Is a shame for use to loose OUR NATIONAKL AIRLINE. Let’s wake up.

    If every Armenian donates one dollar, the Airliner can be saved. Who will take the initiative?

    Let’s make it a corporation, sell the shares at one dollar a piece. Let’s make it profitable venture.

    • George says:

      Dear Stephan,
      I can take the initiative. But unfortunately it will take more than that. 10,000,000 Armenians, $1 each will make $10,000,000 only.
      Our Government should step in and save our airline then ask people to contribute. I will definitely do my contribution. Our airline should be our pride and joy.
      Where are our multi millionaires? Please help!

  4. stephan says:

    GOOD COMMENTS AND CONSTRUCTIVE SUGGESTION.

  5. kevork halablian says:

    lets armenians together save armavia

  6. hay says:

    The regime gave this airline almost free had to do what they want- simply to make short term provit and declare “bankruotcy!- That was it – as did Armenian Airlines ! Corrupt officials (above all the president and PM) did ignore miss management and stupid actions oft this airline and his boss for A LONG TIME!!- The whole ruling elite should resign! This is sad since Armenian needs a relabel national airline ! Such officials will never be able to protect our national interets!

  7. lobo says:

    Good riddance.

    Sure thing, Mika “businessman” Bagdasarov, it is because of the losses you made from 2 airplanes. Well then I guess it is about time that this company goes down – normal airlines can’t be put down by adding just those to their fleet.

  8. MK says:

    Mika “businessman” Bagdasarov is a relative of corrupt serzh.

  9. Stepan says:

    It saddens me that while Turkish airlines has become a global carrier with ever expanding routes, yet another Armenian airline goes bankrupt!

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