At the beginning of 2012, there was much speculation that Armavia,the national airline of Armenia was struggling financially. They had a debt of $US6.2 million with the Zvartnots airports authority. Services to the airline were suspended for non payment of airport fees. Armavia’s owner, Mikhail Bagdasarov, in March, threatened to file for bankruptcy unless Zvartnots reduced the service fees. A compromise was worked out.
Then last week, Zvartnots airport again, suspended services to Armavia air company over the latter’s debts.
Over the summer the Russian media has reported several times that Armavia was about to be sold to a Russian company. They have even quoted a price tag of $US55 million. The airline has vehemently denied the rumours each time. Maybe time is running out? Watch this space.
Armavia flies to 35 destinations with nine planes. Skytrax rates them a two star airline with passengers giving them an overall score of 4.6 out of ten.