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Air Armenia Chief Says Bankruptcy Ruled Out Despite Financial Proble

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  • Air Armenia Chief Says Bankruptcy Ruled Out Despite Financial Proble

    AIR ARMENIA CHIEF SAYS BANKRUPTCY RULED OUT DESPITE FINANCIAL PROBLEMS

    11:35 * 03.10.14

    In an interview with Tert.am, Air Armenia CEO Arsen Avetisyan agreed
    that damping policies by Russian airlines may be the reason behind
    the company's financial difficulties, but he denied the report about
    a possible bankruptcy.

    Mr Avetisyan, reports say that the company has debts amounting to
    5 million Dollars and may be declared bankrupt soon. Also, problems
    with the purchase of aircrafts were reported.

    I don't know who commissioned [such a report], as this is the second
    time I hear disinformation. Perhaps they feel happy that we have
    problems ... I don't know who does it.

    So you actually confirm that you have problems.

    We have technical problems; our A320 aircraft has flown to Amsterdam
    through Paris for a planned technical maintenance checkup. The second
    plane was due to leave for a shorter period, and it is there at the
    moment. I don't have an aircraft in Dubai, as the report said, so
    the second plane will return after the checkup. The other plane will
    be there for 21 days. It wasn't planned, so we are not able to serve
    the scheduled flight with only one aircraft. Hence we have merged two
    flights. Yes, we do have problems, and I have to borrow a plane from
    partner companies to secure the flight till my aircraft returns.

    And what about financial problems?

    Any air company around the globe has financial problems, but given
    that we have enough means in circulation, we manage to resolve our
    financial problems. So bankruptcy is out of the question.

    You say any air company has financial problems. So don't you attribute
    that to damping policies by Russian airlines?

    Yes, those statements may be linked to certain steps by the
    competitors. And the letter which I received from Rosaeronavigatsia
    was very conscientiously and affably written. But the information
    published was absurd. And it caused financial problems, as all debitors
    now avoid paying money to us. They say we may not be able to serve
    flights, causing them to cover the return [costs] of air tickets on
    their own. So they all began demanding the money back, afraid that
    our company may go bankrupt. But we will not; yes, there are really
    problems, as we are not able to secure our proceeds in time to pay
    creditors' debts.

    Armenian News - Tert.am

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