Oct 5, 2012

Baghdasarov: Armavia’s potential buyer is not from Armenia

Panorama.am has interviewed Armavia Air Company owner Mikhail Baghdasarov. Below we present some excerpts from the interview.

- Rumors say Mikayel Minasyan plans to buy Armavia. Are you really negotiating with him? Who is the potential buyer of the airline?

- No, I am not negotiating with him…. I am negotiating with some people from Australia, Italy and Russia. We have 3-4 variants. This is a commercial secret. I cannot tell you who is the buyer until he buys the company, because it could be insulting for the buyer.

- You said they are Italians, Australians. Isn’t there some businessman in Armenia who would wish and would be able to buy the airline?

- There is no businessman of that level in Armenia. They even have no idea that there are deep business processes and problems in this field.

- I think you have sufficient potential to “fix up” Armavia independently. Why are you selling it?

- I am not able to “fix it up” because very large sums are required for this. The crisis forced us to return all planes and buy new ones. These things are not so easy.
Source: Panorama.am

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