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ARMAVIA OWNER NEGOTIATING AIRLINE'S SALE - PRESS SECRETARY
Interfax
Sept 26 2012
Russia
Mikhail Bagdasarov, the owner of the Armenian national air carrier,
Armavia, is holding negotiations on the company's sale, Armavia press
secretary Nana Avetisova told Interfax, adding that it could be sold
to an Italian buyer.
"No final decision has yet been made as to whether Armavia will be
sold to an Italian company or some other," Avetisova said. "I cannot
specify the number of companies [wishing to buy Armavia], but there
is a choice and an alternative," she said.
The Russian Federal Air Transport Agency (Rosaviation) banned
Armavia's flights to Russia due to debts for air navigation services
and stopped providing these to the airline on March 6, 2012. However,
Armavia forwarded a guarantee letter to the Russian agency the same
day promising to clear the December debts by March 20. After that,
Rosaviation resumed the airline's servicing and allowed it to fly to
Russia until March 20.
The same day, Armavia's conflict with the Yerevan international
airport Zvartnots was reported. Armavia announced it was beginning an
open-ended strike to demand that the air hub reduce the prices for its
services. However, Zvartnots called the airline's claims unwarranted.
Armavia stopped the strike and resumed flights but said it was
continuing negotiations with the airport on reducing the prices.
Bagdasarov said on March 9 that the company might start negotiations
on its bankruptcy in the near future if Zvartnots did not reduce its
service prices by 25%.
It was reported on September 20 that Zvartnots Airport suspended
Armavia's servicing because of overdue debts for airport services.
"The flights have been suspended until the debt is paid," airport
spokesman Gevork Abramian told Interfax.
He did not specify the size of the debt, noting only that it is
"significant."
Armavia itself told Interfax that the matter involves a minor current
debt. An airline spokesperson said the company pays for servicing
its flights immediately, but the recent payments were not made due
to a weekend and a non-working Monday in Armenia.
Armavia carries out over 100 flights a week to more than 35
destinations in 20 countries. The airline belongs to Bagdasarov through
Aviafin (65%), Mika Limited (34.9%) and Mika Corporation (0.1%).
From: Emil Lazarian | Ararat NewsPress
Interfax
Sept 26 2012
Russia
Mikhail Bagdasarov, the owner of the Armenian national air carrier,
Armavia, is holding negotiations on the company's sale, Armavia press
secretary Nana Avetisova told Interfax, adding that it could be sold
to an Italian buyer.
"No final decision has yet been made as to whether Armavia will be
sold to an Italian company or some other," Avetisova said. "I cannot
specify the number of companies [wishing to buy Armavia], but there
is a choice and an alternative," she said.
The Russian Federal Air Transport Agency (Rosaviation) banned
Armavia's flights to Russia due to debts for air navigation services
and stopped providing these to the airline on March 6, 2012. However,
Armavia forwarded a guarantee letter to the Russian agency the same
day promising to clear the December debts by March 20. After that,
Rosaviation resumed the airline's servicing and allowed it to fly to
Russia until March 20.
The same day, Armavia's conflict with the Yerevan international
airport Zvartnots was reported. Armavia announced it was beginning an
open-ended strike to demand that the air hub reduce the prices for its
services. However, Zvartnots called the airline's claims unwarranted.
Armavia stopped the strike and resumed flights but said it was
continuing negotiations with the airport on reducing the prices.
Bagdasarov said on March 9 that the company might start negotiations
on its bankruptcy in the near future if Zvartnots did not reduce its
service prices by 25%.
It was reported on September 20 that Zvartnots Airport suspended
Armavia's servicing because of overdue debts for airport services.
"The flights have been suspended until the debt is paid," airport
spokesman Gevork Abramian told Interfax.
He did not specify the size of the debt, noting only that it is
"significant."
Armavia itself told Interfax that the matter involves a minor current
debt. An airline spokesperson said the company pays for servicing
its flights immediately, but the recent payments were not made due
to a weekend and a non-working Monday in Armenia.
Armavia carries out over 100 flights a week to more than 35
destinations in 20 countries. The airline belongs to Bagdasarov through
Aviafin (65%), Mika Limited (34.9%) and Mika Corporation (0.1%).
From: Emil Lazarian | Ararat NewsPress