Mika Is Discontent With Dollar Devaluation


[05:40 pm] 27 July, 2007

The owner of the "Armavia" National Airlines and Russia-based
businessman Michael Baghdasarov is discontent with the dollar
devaluation. He stated this at the Hayeli Club on July 27.

Baghdasarov stated when he sold 70 percent of shares to the Russian VTB
bank, they agreed to sell the other 30 percent later. He did it on July
25. The dollar depreciation made Baghdasarov sell his shares to VTB.

His disapproval of the bank policy is also determined by the dollar

After selling his 30 percent of shares Michael Baghdasarov noticed
that the new leadership of the bank launched reforms, which he thinks
is on the right track. Mikhail Baghdasarov is likely to help the bank
and to keep the accounts of his companies in the bank.

"It will be good for the bank." Today we are not in the banking
sector but it does not mean we will not buy a bank later, Mikhail
Baghdasarov stated.

The owner of the national airlines said today that the number of
passengers of the company grows by an annual 0.6 percent. Armavia
gradually develops and becomes member of the European family of

According to Michael Baghdasarov, only 0.5 percent of delays are
Armavia’s fault. Baghdasarov assured that Armavia’s parameters are
better than those of the Russian and some European airlines.

Presently the company has 7 planes, it will buy another two A320
planes before 2008 and one A330 by 2011. Besides, the company will
have more regular flights. Armavia already flies to Cologne, soon the
Yerevan-Beijing and Yerevan-Tokyo flights will be launched. Armavia is
ready to start flights from Yerevan to Los Angeles. The United States
is not against, and now the General Department of Civil Aviation of
Armenia is negotiating with the Armenian party.

The owner of Armavia also said soon the Armavia will be set up which
will repair not only Armavia’s planes but also other companies’
planes. In the nearest future, it will be possible to book tickets
on the web.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS