Jul 3, 2012

Armenian businessman Harutyun Pambukyan wants to buy Armavia

A businessman, former MP Harutyun Pambukyan wants to buy Armavia airline from its current owner Mikhail Baghdasarov, gazeta.ru says, citing its sources.

The national carrier has serious financial issues while Rosaviatsia wants to expand Armenian market for Russian airlines.

According to the source, Pambukyan has already proposed a deal to the owner. “Together with his Moscow partners, he is offering $55 million for acquiring the airline,” the media reports, without revealing the names of the Russian investors. The source claims the deal may be concluded by the end of the year.

Armavia is the only airline in Armenia.

Source: tert.am

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