Armavia to halt flights, declare itself bankruptMarch 29, 2013 - 15:59 AMT PanARMENIAN.Net - Armenian national carrier Armavia has resolved to cease operations starting April 1, 2013. “Armavia was established in 1996. It started operation of flights in 2001with only one aircraft. The company’s fleet was replenished with 3 planes in 2003, with 7 and 14 more planes in 2006 and 2007 respectively. However, many airline companies went bankrupt during the world economic and aviation crisis of 2008. Aviation is in need of continuous development. In the past three years, the owner of Armavia invested funds of other businesses to foster the development of the company. However, in the face of the current situation, the company resolved to halt the flights and start the bankruptcy proceedings. The company expresses gratitude to all its passengers and wishes them good luck!” Armavia’s press service said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |