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Armenia's flag carrier airline Armavia goes bankrupt, ceases flights

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Armenia's national airline, Armavia, has declared the start of bankruptcy proceedings. Armavia's owner, Mikhail Bagdasarov, announced his intention to sell the company last year, but has failed to find a buyer. Bagdasarov attributed Armavia's troubles to the global economic downturn and losses from using a new Russian-made Sukhoi superjet. Europe’s debt crisis has curbed travel and made governments reluctant to aid airlines amid the region’s deepest cost cuts in a generation.… (www.usatoday.com) More...

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ftldave
Armenia is a corrupt little post-Soviet republic that's on the downhill slide. Rampant corruption has led to a mass exodus of its citizens out of the country due to economic stagnation, oligarch/mafia monopolies, rigged elections, and many years of blockade by Turkey and Azerbaijan. Armenian Airlines, its first flag carrier, went bankrupt in 2004. Severely dependent on air travel, losing its main air carrier is terrible news.
vanstaalduinenj
I was just planning a trip there...... Now what am I going to do?
ftldave
Aeroflot has daily flights, if you're brave enough to face Russian airports. The last time we went we flew Poland's LOT, but the food was inedible, the worst we've ever had on a plane.
Av8nut
Another bankrupt airline (yawn). Next article, please.
grahbag
grahbag 1
Armenia has an airline? Who knew?!

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