Armavia CEO blames poor management for bankruptcy

The chair of the Public Council of Armenia named bad management, high prices and insufficient governmental involvement among reasons for Armavia air company’s bankruptcy.
As Vazgen Manukyan stated at the April 11 hearing on Armavia bankruptcy, on April 18, the Council will submit a final conclusion on the issue for the government’s consideration. As Manukyan noted, Armenia must have 2-3 competing air companies to curb monopoly and provide transparency in the sector.
Armavia CEO Norayr Beluyan, in turn, stressed that a national air company with a 51% governmental share is necessary in order to provide proper management. He further agreed with Manukyan as to poor management in Armavia.
The General Manager of Armenia-International Airports CJSC Marcelo Wende, in turn, noted that currently, many companies are interested in operating flights to Armenia, which will help decrease the prices. As he noted, forming a new company will take up to 1 year.
The head of Krunk Air Vladimir Poghosyan expressed readiness to get a certificate for flights operation. “We have enough funds to purchase 8 planes to form an air company within 2-month period,” he said.

Source:  panarmenian.net

Zhoghovurd: Mass downsizing at Armenian airline company?

Businessman Mikhail Baghdasarov wishes to establish a new airline company named YerevanAvia, whereas mass downsizing has begun at Baghdasarov’s Armavia Company, Zhoghovurd daily writes, referring to well-informed sources.
“Armavia’s employee Norayr Beluyan was dismissed. But, in response to the newspaper’s query, Armavia’s spokesperson Nana Avetisova denied this news. [She said:] ‘I confidently announce that Beluyan works at Armavia as president. And this bespeaks that he not only is not dismissed, but he has received a promotion.’ And concerning the establishing of the YerevanAvia Company, Avetisova said she heard about this for the first time from the newspaper. To note, Armavia has certain financial problems in connection with [Armenia’s] Zvartnots [International] Airport, and there were incidents when the flights were delayed,” Zhoghovurd writes.

Source: news.am

Armavia launches Yerevan-Birmingham-Yerevan flight

Armavia national carrier presented its new Yerevan-Birmingham-Yerevan flight on September 28.
“This flight is meant to connect Europe with Asia and Middle East,” Armavia Director General Norayr Belluyan said.
“The flight will allow passengers from India to travel to Birmingham, where numerous Indian diaspora lives. Besides, it will help Armenia develop relations with one of UK industrial centers,” he added.
This year, Armavia launched flights to Delhi, Tel Aviv, Tehran and Barcelona. Yerevan-Beijing-Yerevan flight is expected in the near future.

Source: panarmenian.net