CIVIL AVIATION OFFICIAL SAYS ARMAVIA’S BANKRUPTCY NOT RULED OUT
NEWS.AM
March 28, 2013 | 14:20
YEREVAN.- Armenian civil aviation official did not rule out bankruptcy
of Armavia company.
Artyom Movsisyan, Head of Armenia’s General Department of Civil
Aviation, said the company has occurred in a “tense financial
situation.”
He recalled that Armavia’s agreement signed with government, which
supposed providing the company with exclusive rights, is expiring on
April 22. Movsisyan found it difficult to answer whether the agreement
will be extended, as the decision will be made by the government.
As to rumors about selling Armavia, Movsisyan told reporters they had
not received entries from any company. He also called “ungrounded”
rumors saying Gagik Tsarukyan plans to purchase the company.
The official noted that government had not made final decision
on Armenia’s adopting of “open skies policy”. He did not rule out
creation of a state air company.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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