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ARMAVIA FILES FOR BANKRUPTCY, TO CEASE OPERATIONS
ATWOnline - Air Transport World
March 29 2013
Mar. 29, 2013 Polina Borodina
Armenian carrier Armavia Airlines filed for bankruptcy and will cease
flights April 1. The airline said it failed to cope with the 2008
world economic crisis.
"An Armavia owner (the local businessman Mikhail Baghdasarov) supported
the airline at the other businesses expense," the carrier said in a
statement. "But now it is impossible to continue this way."
In Nov. 2012 Bagdhasarov put Armavia up for sale and local media
reported the owner was considering potential buyers from Russia,
Australia and Italy. Baghdasarov said there were no Armenian
businessmen in a position to buy the airline.
The airline's fleet includes two Airbus A320s, three Bombardier
CRJ200LRs and three Boeing 737-500s. Armavia was the first to take
delivery of the Sukhoi Superjet 100 in 2011 but later returned the
aircraft to the manufacturer, saying it was unsatisfied with its
operational results. Later the carrier refused to take delivery of
second SSJ100. The Sukhoi Civil Aircraft company said the decision
was based on the carrier's poor financial condition and not related
to the aircraft's operational performance.
Nearly half of the Armavia network is concentrated in Russia and
Ukraine and the airline also performs flights to Europe, Middle East
and North Africa.
http://atwonline.com/airlines/armavia-files-bankruptcy-cease-operations
ATWOnline - Air Transport World
March 29 2013
Mar. 29, 2013 Polina Borodina
Armenian carrier Armavia Airlines filed for bankruptcy and will cease
flights April 1. The airline said it failed to cope with the 2008
world economic crisis.
"An Armavia owner (the local businessman Mikhail Baghdasarov) supported
the airline at the other businesses expense," the carrier said in a
statement. "But now it is impossible to continue this way."
In Nov. 2012 Bagdhasarov put Armavia up for sale and local media
reported the owner was considering potential buyers from Russia,
Australia and Italy. Baghdasarov said there were no Armenian
businessmen in a position to buy the airline.
The airline's fleet includes two Airbus A320s, three Bombardier
CRJ200LRs and three Boeing 737-500s. Armavia was the first to take
delivery of the Sukhoi Superjet 100 in 2011 but later returned the
aircraft to the manufacturer, saying it was unsatisfied with its
operational results. Later the carrier refused to take delivery of
second SSJ100. The Sukhoi Civil Aircraft company said the decision
was based on the carrier's poor financial condition and not related
to the aircraft's operational performance.
Nearly half of the Armavia network is concentrated in Russia and
Ukraine and the airline also performs flights to Europe, Middle East
and North Africa.
http://atwonline.com/airlines/armavia-files-bankruptcy-cease-operations