Vestnik Kavkaza, Russia
Aug 28 2014

Armavia still in debt after selling Mika Stadium

28 August 2014 – 3:22pm

Selling Armavia owner Mikhail Bagdasarov’s Mika Stadium for over $22
million still leaves the Armenian airlines with a debt of about $37
million, according to Deputy Minister for Finances Pavel Safaryan,
News.am reports.

About $17.5 million from selling the stadium will cover tax debts of
Armavia, $890,000 to pay taxes of Mika Corporation, about $3.7 million
to pay VAT for selling the stadium.

From: Baghdasarian