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Armavia still in debt after selling Mika Stadium

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  • Armavia still in debt after selling Mika Stadium

    Vestnik Kavkaza, Russia
    Aug 28 2014

    Armavia still in debt after selling Mika Stadium

    28 August 2014 - 3:22pm


    Selling Armavia owner Mikhail Bagdasarov's Mika Stadium for over $22
    million still leaves the Armenian airlines with a debt of about $37
    million, according to Deputy Minister for Finances Pavel Safaryan,
    News.am reports.

    About $17.5 million from selling the stadium will cover tax debts of
    Armavia, $890,000 to pay taxes of Mika Corporation, about $3.7 million
    to pay VAT for selling the stadium.


    From: Baghdasarian
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