Sep 26, 2012

Armenian national airline carrier’s owner is selling company? – newspaper

Hraparak daily reports that it received information on Tuesday that Armenia’s national carrier Armavia Airline Company’s owner Mika Baghdasarov is selling the Company to an Italian company.  
“It is not yet clear which shares [of Armavia] this is about, but he recently brought the Italians to his office and introduced them to his staff.
[And] His adviser Zhasmen Vilyan said: ‘I wouldn’t say [the Company] is completely sold, but Baghdasarov never ruled out [the possibility that] he could sell the Company at some point. Overall, he has a policy of developing an unknown company and selling [it],’” Hraparak writes.


Armavia sold out to Italians?

Hraparak daily was informed on Tuesday that Mikhail Baghdasarov plans to sell Armavia Air Company to some Italian company. The volume of shares to be sold is not yet specified, but it is reported that Baghdasarov brought the Italians to his office and introduced them to the staff.

Baghdasarov’s adviser, Jasmine Vilyan, said to the daily, “I would not say that the company is totally sold out, but Baghdasarov never ruled out the possibility that he can sell the company at some moment.”


The rumors are confirmed: ''Armavia'' will be sold

Owner of the Armenian national aviation company ''Armavia'' Mikhail Baghdasarov intends to sell his company. Armenian media representatives have spread this information and the press service of the company confirmed it.
''Yes, there are such plans. But there is no final decision if the Italians will be the buyers or not'', speaker of the ''Armavia'' Nana Avetisova told
''It is well-known fact that the world aviation has been in financial crisis for already three years and nearly all comanies work without profit'', she said.
Answering to the question by which part of the company will be sold N. Avetisova said that nothing exactly is known now and she could not publish a name of any company.


Strategic Sellout: News of national air carrier’s purchase by foreign company raises concerns in Armenia

Armenia’s national air carrier Armavia will soon have a new foreign owner, which, according to some experts, is “dangerous and unadvisable” from the national security point of view.

Armavia’s current owner Mikhail Bagdasarov confirmed the information about the airline’s sale, saying that at the moment there are two main likely buyers – one of them is an Italian company, the country of origin of the other likely buyer is not mentioned yet.

In the last year or so Armavia has been on the verge of bankruptcy and the Zvartnots international airport on several occasions had to discontinue servicing the airline’s regular flights, which created inconveniences for air passengers.

Armavia officials said still in 2010 that the company was working in very unfavorable conditions imposed by the consequences of the global economic crisis and that the prices for services set by the Zvartnots were rather high.

According to Armavia, Zvartnots charges about 20 euros per passenger for its services, while in Georgia, for example, the country’s national air carrier enjoys a discount and pays a fee of only 4 euros per passenger and Armavia there pays 12 euros.

The sellout of another strategic facility of Armenia to a foreign company has raised more concerns in the country that already has its major strategic sectors (such as railway, communications, electricity and gas, water supply) owned or run by foreign companies, mostly from Russia.

Political analyst Hrant Melik-Shahnazaryan described it as regrettable that Armenia is losing control of another strategic direction.

“I have always been against the sale of strategically important sectors of the economy to foreign companies. Gaps in the legislation should be revisited so that the state should remain in control [of such sectors]. Otherwise, it will always involve risks,” he told ArmeniaNow.

Management expert Harutyun Mesrobyan, too, believes that “the sale of a strategic sector is dangerous from the point of view of national security”, but he stresses that Armavia has never been a ‘truly national’ air carrier.

“What is given to oligarchs’ control cannot be national, because the top priority for oligarchs is to rake in excessive profits,” Mesrobyan told ArmeniaNow. “It was for these excessive profits that Armavia worked outside the competitive field.”

Mesrobyan also stressed that in any case in strategic industries the government should either share in the capital or have control instituted by law.

“But since we are not a ‘national’ state, since oligarchs and ‘the national’ are incompatible, it is pointless to talk about any progress in the oligarchy-based economy,” Mesrobyan concluded.


Armavia air company may be sold to Italian firm – paper

According to a source, the owner of Armavia Mikhail Baghdasarov plans to sell the air company to an Italian firm, Hraparak daily reported.  Though no info on exact part of the shared to be sold was revealed, recently, Baghdasaro took the representatives of the Italian firm on a tour of the comnay headquarters.  As Baghdasarov adviser Zhasmen Vilyan noted, “I wouldn’t say the company is fully sold. However, Baghdasarov never ruled out plans to sell it at one point, his policy being to boost some minor company to the point it can be sold at a profit.


National air carrier Armavia on sale

National air carrier Armavia Company is going to be sold. Armavia company press secretary Nana Avetisyan confirmed the news being circulated for quite a long time. ''Yet  it is not clear who is going to purchase the company, Italians or somebody else: many wish to buy the Company ''Avetisyan stated.
 Armavia selling can be reasoned by not being profitable under critical circumstances.
Armavia and Zvartnots international airports have signed agreement on March 15, 2011, in accordance to which the airport agreed to meet "Armavia" requirement, particularly reviewing the service tariffs. Armavia in its turn committed to stand the accumulated debts by September accordingly to the schedule timetable . Armavia accumulated 5, 3 million dollar within 6 months.


Mikhail Baghdasarov negotiates sale of Armavia Air Company

Armavia Air Company owner Mikhail Baghdasarov negotiates the company’s sale. Nana Avetisova, a spokesperson for the company, confirmed this information to However, she did not specify the volume of shares to be sold.  Armenian media reports say Armavia Air Company will be sold out to Italians.  Mrs Avetisova noted that there is no final decision yet as to whom to sell the company to.  “There are some companies that want to buy Armavia. I cannot tell you whether their number is large or small, but I can say that we have choice and alternative to select among them.”  Armavia Air Company frequently has financial problems with Zvartnots Airport, as a result of which Zvartnots refuses to operate Armavia flights.


Armavia resumes regular flights to Frankfurt

Armenia’s national carrier Armavia will resume regular flights to Germany’s Frankfurt city starting October 30, 2012.  Run by transport company Fraport, Frankfurt Airport is by far the busiest airport by passenger traffic in Germany, the third busiest in Europe (after London Heathrow Airport and Paris-Charles de Gaulle Airport) and the ninth busiest worldwide in 2011.  “Yerevan- Frankfurt-Yerevan flights will operate once a week, on Tuesdays,” the air company’s press service reported.


Zvartnots airport continues services to Armavia air company

Zvartnots airport continues services to Armavia air company on September 24, airport spokesman said.  As Gevorg Abrahamyan told a PanARMENIAN.Net reporter, the company paid part of debts to the airport.  Zvartnots airport suspended services to Armavia air company on September 19 over the latter’s debts. However, Armavia was allowed to continue flights to save passengers the inconvenience until September 24.


Sep 22, 2012

Armavia given time to repay the debt because of Independence Day

Although Armavia air company did not repay the debt on Thursday,  “Armenia” International Airports CJSC, taking into account the interests of its customers and the upcoming Independence Day, decided to resume serving Armavia flights staring from 6 p.m., the company said in a press statement.
As reported earlier, Armavia-Zvartnots conflict continues for several months. Earlier Zvartnots suspended the flights because of air company’s debts but then the sides started talks and seemed to reach an agreement.
Owner of Armavia Mikhail Baghdasarov said the company will go into bankruptcy and shut down unless Zvartnots Airport changes its price policy.
“Unless we come to an agreement we will declare bankruptcy, return the air-tickets, sell the airplanes and settle the debts,” said Baghdasarov.


Armavia fails to pay debts to Zvartnots in time over past non-working days

Armavia air company failed to pay its debts to Zvartnots airport in time over the past non-working days, Armavia’s statement reads.
“It will be possible only within 2-3 days. It comes as a warning from the airport. On the eve of upcoming holidays, the airport wants Armavia to make a prepayment, which is not possible, either. It’s incorrect to issue such warnings to Armavia through flight delays and causing inconvenience for passengers) on the eve of Armenia’s Independence Day,” the company’s statement reads.
Zvartnots airport has suspended services to Armavia air company over the latter’s debts. However, Armavia was allowed to continue September 19 flights to save passengers the inconvenience.
On the morning of September 20, Zvartnots services to Armavia were halted.
As Zvartnots press-service told a PanARMENIAN.Net reporter, Armavia’s debt to the airport has further increased, with many previous instances of flights halted over the air company’s debts.


Sep 9, 2012

,,Armavia” to restore flights to Aleppo

National air carrier "Armavia" company is to restore regular flights to Aleppo on September 10. Nana Avetisova, the press secretary of the company, noted in her interview with Armenpress that Syrian Armenain children who have been on holidays in Armenia will return to Aleppo on additional flight on September 9. Flights to Aleppo have been temporarily suspended beginning from September 2. : National air carrier "Armavia" company did several additional flights to Aleppo, due to the critical situation in Syria.
Chief of Staff of the Ministry of Diaspora, the head of the working group dealing with Syrian problems Firdus Zakaryan informed Armenpress that more than hundred children will leave Armenia on additional flights.   


Sep 3, 2012

Armavia ceases flights to Aleppo

Since today, Armavia Air Company ceases its flights to Aleppo.

“The reason is the threat of the Syrian opposition and the lack of communication with Syria. In this way the security of the passengers is guaranteed,” the statement of the Air Company reads.


Armavia cancels flights to Syria’s Aleppo

Armenian national carrier Armavia has canceled Yerevan-Aleppo-Yerevan flights.
As the company’s spokesperson Nana Avetisova told a PanARMENIAN.Net reporter, the decision was taken due to the deteriorating situation in Syria, as the airports in Aleppo and Damascus “can be targeted by rebels.”