Armavia confirms having debts: Flights have resumed from Zvartnots Airport

Armavia has already finished the registration of the Yerevan-Moscow flight, and the reports that the carrier has halted all the flights at the Zvartnots International Airport are not true, spokeswoman of Armenian national airline carrier Armavia, Nana Avetisova told Tert.am

"Let them not spread speculation,"  said she.

Earlier this morning the press service of Armenia International Airports told Tert.am that Armavia has incurred large debts and has therefore been obliged to suspend all the flights.

Further Nana Avetisova said that everything will gradually be regulated. At the same time she confirmed reports that Armavia is in debts with Armenia International Airports.

"Yes we do have debts," said she.

Armavia is an airline with its head office on the grounds of Zvartnots International Airport. It operates international passenger services from Yerevan to destinations in Europe and Asia.

The Armavia Company was established in 1996, but commercial flights to Russia and Turkey only started in 2001. In 2002, a strategic alliance was set up with the Russian airline S7 Airlines which purchased 50% of Armavia's shares from the "Chernomoravia" company under the name of the "Aviafin" company registered in Armenia.

Later, it bought an additional 18% of shares from Mika Armenia Trading Company owned by prominent Armenian businessman Mikhail Baghdasarov. An investment contract between S7 Airlines and Armavia was signed on 14 March 2003, at which point 68% of Armavia's shares were owned by S7 Airlines and the remaining 32% by Mika Armenia Trading.