Jul 25, 2011

Armenia’s national carrier not facing bankruptcy

Armenia’s national carrier Armavia is not facing bankruptcy, said company’s owner Mikhail Bagdasarov.
He said that the company’s financial position is stable. Armavia has adopted a new strategy – to purchase expensive planes at the expense of increasing credits, he told journalists on Wednesday.
“Presently world demand for aircrafts is inferior to the offer, therefore prices for air carriers have decreased. Armavia prefers to purchase planes at the expense of new loans instead of renting them,” he added. Bagdasarov stressed that Armavia’s loans exceed $40 million.
He also noted that some airports, in particular Domodedovo and Vnukovo reduced prices for their services.
“As regards Yerevan’s Zvartnots airport, the situation has not changed. It is the third most expensive airport,” said Bagdasarov. 

Source: news.am

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