ARMAVIA ARMENIAN AIR COMPANY TO COME TO IPO MARKET

ARKA
Sep 1, 2008

YEREVAN, September 1. /ARKA/. Armavia Armenian air company intends to
take part in initial public offering (IPO) market, the owner of the
company Mikhail Baghdasarov said. The air company will be selling its
shares on London Exchange in two years' time, he told to ARKA Agency.

According to Baghdasarov, this will provide an opportunity to
every Armenia in all over the world to possess a part of Armenia in
Armavia's shares.

Baghdasarov stressed he has no intention to sell his air business,
but wants to develop it instead.

Today air companies go bankrupt in all over the world and fail to
carry out flights, whereas Armavia meets the current requirement and
is successfully developing, he said.

Armavia national air company is the leader at Armenia's aviation
market.

The company was established in 1996 by Aviafin Ltd and Mika Armenia
Trading Ltd.

In June 2005, Mikhail Baghdasarov, President of Mika Armenia Trading
Ltd, became the full owner of the company.

Today the company operates a wide range of air routes to the CIS
countries, Middle East and Europe.

From: Emil Lazarian | Ararat NewsPress