Saturday, March 12 2016 17:57
Naira Badalian

Newly established Armenia air company: dark horse and future of Armenian aviation

Newly established Armenia air company: dark horse and future of  Armenian aviation

ArmInfo. Newly established Armenia airline company does not inspire trust, former head of Armenia's General Department for Civil Aviation (GDCA), Shahen Petrosyan stated at the today's meeting with journalists, commenting on the media hype around a new airline company entering on the Armenian market of passenger air transportation. 

 
According to him, it is impossible to talk about the seriousness of this company when the information about its financial resources and future investments is not disclosed. "The representatives of the company have stated nothing except promises and common expressions. It is unknown who stands behind this company and what goals it pursues", he stated. At the same time, the expert did not exclude that the company will enter Armenian aviation market, work for several months and then will announce about its bankruptcy. 
 
To recall, the heads of the newly established company have stated that the first flights from Yerevan will be conducted next month. According to company's shareholder Robert Hovhannisyan the airline company has already been registered and undergoes the last stage of the process of receiving a certificate for conducting regular commercial transportation. 
 
To note, according to the information by Armenia's General Department for Civil Aviation the founders of the "Armenia" air carrier are Ashot Torosyan (51% stake), Tamaz Gaiashvili (24%) and Robert Hovhannisyan (25%). Tamaz Gaiashvili is the founder of the Georgian "Airzena" company and the former chairman of the company's Board of Directors, while Robert Hovhannisyan is his former deputy. Airzena airline was established and started operations in September 1993. Airzena became the national air carrier of Georgia in 1999. In August of 2004 Airzena was renamed to Georgia Airways however Airzena brand was maintaned. Givi Davitashvili is the General Director of Georgian Airways. According to Kommersant newspaper, recently the Georgian air carrier faced problems on the Georgian market caused by decline of passenger flow. The authors of the article mention that the problems of Airzena are first and foremost caused by strengthening of Russian air companies on the market. For the very same reasons former head of the air company Iase Zautashvili had not excluded that the company might leave the Georgian market. Russian Airflot entered Georgian 
market in the end of 2014. Zautashvili accused it in manipulations with dumping prices on the Georgian market and rose concerns that the Russian companies will occupy Georgian market. Commenting on the current situation former General Director of Airzena Iase Zautashvili stated that as there is no national air carrier on the Armenian market at the moment the new airline company will probably occupy this niche. 
 
Zautashvili says that Russia and Europe will be the main directions of the new airline company. Airzena according to Zautashvili reduced its activities and placed its staff to leave. The founders of the company decided to work in other direction. Zautashvili thinks that this is caused by strengthening of Turkish, Ukrainian, Russian and other airline companies. At the same time, information was spread in mass media that the management team of Georgian Air Services compels their employees to write a letter of resignation. As one of the employees of the company told PirWeli news agency, an emergency meeting has been held today, which was attended by former general director of the company and factual head of Georgian Air Servce Tamas Gaiashvili. ''Al the employees were invited to the meeting and Gaiashvili personally announced that we have to write letters of resignation and leave the company. They have not clarified the reasons and the number of the employees they plan to dismiss", one of the employees said and added that personnel purges are supposedly caused by financial problems, which the company faced after a number of international flights were canceled. In order to check this information Pirweli talked with Head of the public affairs department 
of the company Nino Giorgobiani who in fact denied the information that such a meeting was held. The Pirveli news agency also recalls the information that the owner of Armavia Mikhael Baghdasarov was offered to purchase Airzena and he was stating that ''this offer 
should be considered as the company is quite efficient''. 
 
Meanwhile, Armenian mass media found out that dentist from Gyumri Ashot Torosyan owns 51% of shares of Armenia Airline Company. The latter states that no oligarch, state official or the Prime Minister's son use his name and he is the real owner. However, as mass media informs those who are familiar with Ashot Torsyan are skeptical about this. According to people from Gyumri, Torosyan is a dentist with humble conditions of life, while others from his surrounding state that he has rich relatives in Georgia.  Meanwhile, as press secretary of Armenia airline company Gevorg Khachatryan stated the information about personal life of the shareholders is not a subject to disclosure refusing to comment on the information whether the shareholder of the company and dentist from Gyumri are the same person. He suggested waiting for a week after which all the information about the owners and the plans of the company will be presented.
POST A COMMENT
Input digits     


News
Yerevan hosts 16th meeting of Armenian-Belarusian Intergovernmental  CommissionYerevan hosts 16th meeting of Armenian-Belarusian Intergovernmental  Commission
Armenia Securities Exchange, Central Depository of Armenia completed  ISO 27001 and ISO 9001 recertificationArmenia Securities Exchange, Central Depository of Armenia completed  ISO 27001 and ISO 9001 recertification
CBA significantly improves its forecast for projected export and  import growth in 2022 to 28-24%, from 5.1-8.3% previouslyCBA significantly improves its forecast for projected export and  import growth in 2022 to 28-24%, from 5.1-8.3% previously
The share of exports, imports and transfers in Armenia`s GDP in 2023  will decrease compared to 2022:  Macroeconomic project of state  budgetThe share of exports, imports and transfers in Armenia`s GDP in 2023  will decrease compared to 2022:  Macroeconomic project of state  budget
13th regional exhibition PANARMENIAN EXPO 2022 opened in Yerevan13th regional exhibition PANARMENIAN EXPO 2022 opened in Yerevan
IFC’s New Loan to Evocabank to Help Smaller Businesses Grow and Create Jobs in ArmeniaIFC’s New Loan to Evocabank to Help Smaller Businesses Grow and Create Jobs in Armenia
SRC chairman, IMF representatives discuss issues of ensuring access  to bank information for tax authorities informationSRC chairman, IMF representatives discuss issues of ensuring access  to bank information for tax authorities information
High-voltage power line to Iran damaged due to Azerbaijani shelling:  MinisterHigh-voltage power line to Iran damaged due to Azerbaijani shelling:  Minister
Governor: Due to the enemy`s actions, the Sotk gold mine is operated at 40 percentGovernor: Due to the enemy`s actions, the Sotk gold mine is operated at 40 percent
CBA further improves its forecast of unemployment rate: It is  expected to decrease to 14.1% in 2022CBA further improves its forecast of unemployment rate: It is  expected to decrease to 14.1% in 2022
FLYONE ARMENIA to start operating Yerevan-Milan-Yerevan flightsFLYONE ARMENIA to start operating Yerevan-Milan-Yerevan flights
Armenian tax authorities exceeded program tax collection target by  about $180 millionArmenian tax authorities exceeded program tax collection target by  about $180 million
Armenia to significantly increase capex for infrastructure projects  in 2023Armenia to significantly increase capex for infrastructure projects  in 2023
Yerevan becomes one of most popular destinations for Red Wings  passengersYerevan becomes one of most popular destinations for Red Wings  passengers
In 2023, government debt will be reduced to 50% of GDP, from expected  53% by the end of 2022: Draft state budget of ArmeniaIn 2023, government debt will be reduced to 50% of GDP, from expected  53% by the end of 2022: Draft state budget of Armenia
11%-12% GDP growth expected in Armenia in 202211%-12% GDP growth expected in Armenia in 2022
Yerevan Municipality, Asian Development Bank discuss new areas of  cooperationYerevan Municipality, Asian Development Bank discuss new areas of  cooperation
Tenders for construction of Kajaran-Agarak section of North-South  project to be invited Tenders for construction of Kajaran-Agarak section of North-South  project to be invited 
Armenian government discuss draft budget for 2023Armenian government discuss draft budget for 2023
With its new forecast for 2022, CBA further reduces decline in net  inflow of transfers from previous 13% to 7%With its new forecast for 2022, CBA further reduces decline in net  inflow of transfers from previous 13% to 7%
CB new forecast for 2022-2023: Armenian GDP growth will slow down  from 12.9% to 4.4%, and inflation will decrease from 10.3% to the  target 4%CB new forecast for 2022-2023: Armenian GDP growth will slow down  from 12.9% to 4.4%, and inflation will decrease from 10.3% to the  target 4%
The first snail breeding farm was established in ArmeniaThe first snail breeding farm was established in Armenia
EBRD improves its 2022 GDP growth forecast for Armenia from previous  4.5% to updated 8%EBRD improves its 2022 GDP growth forecast for Armenia from previous  4.5% to updated 8%
Armenian authorities` intention to construct a new, 1,200 MW, nuclear  power unit is erroneous- expertArmenian authorities` intention to construct a new, 1,200 MW, nuclear  power unit is erroneous- expert
Wizz Air starts operating Rome-Yerevan-Rome flightsWizz Air starts operating Rome-Yerevan-Rome flights
3rd session of Geographical Indications sub-committee under CEPA  between Armenia and EU took place3rd session of Geographical Indications sub-committee under CEPA  between Armenia and EU took place
Armenia`s GDP growth to be double-digit in 2022 - EconomistArmenia`s GDP growth to be double-digit in 2022 - Economist
 USD 25 million to support the private sector USD 25 million to support the private sector
Armenia`s economic activity increased by 13.9% in 8 months of 2022Armenia`s economic activity increased by 13.9% in 8 months of 2022
Armenia-Italy Textile Alliance Forum started in MilanArmenia-Italy Textile Alliance Forum started in Milan
Dmitry Volvach: Trading volumes of the ruble-dram currency pair  increased more than 1000-fold on the Moscow ExchangeDmitry Volvach: Trading volumes of the ruble-dram currency pair  increased more than 1000-fold on the Moscow Exchange
Armenia`s minister of economy hosts WB Country Manager for ArmeniaArmenia`s minister of economy hosts WB Country Manager for Armenia
EBRD launches climate governance platform for business leaders in  Ukraine, Georgia and ArmeniaEBRD launches climate governance platform for business leaders in  Ukraine, Georgia and Armenia
Another step in promoting the Armenian-Russian decentralized  cooperation: Pashinyan`s address to participants of Armenian-Russian Interregional Forum Another step in promoting the Armenian-Russian decentralized  cooperation: Pashinyan`s address to participants of Armenian-Russian Interregional Forum 
Iran Khodro Company starts supplying cars to ArmeniaIran Khodro Company starts supplying cars to Armenia
Armenia, China are considering  possibility of organizing direct  flights between  countriesArmenia, China are considering  possibility of organizing direct  flights between  countries
Expert: With the stabilization of the military-political situation,  the exchange rate in Armenia will also stabilizeExpert: With the stabilization of the military-political situation,  the exchange rate in Armenia will also stabilize
Gradual softening of the global inflationary environment will weaken  the inflationary impact from the external sector on the Armenian  economyGradual softening of the global inflationary environment will weaken  the inflationary impact from the external sector on the Armenian  economy
CBA significantly improves its forecast for GDP growth for 2022 to  12.9%, but expects inflation at 10.3%CBA significantly improves its forecast for GDP growth for 2022 to  12.9%, but expects inflation at 10.3%
Central Bank of Armenia raised refinancing rate from 9.5% to 10%Central Bank of Armenia raised refinancing rate from 9.5% to 10%
TOTAL opens training center in Etchmiadzin for training specialistsTOTAL opens training center in Etchmiadzin for training specialists
WB stands ready to continue to assist Armenian government in  implementation of priority programsWB stands ready to continue to assist Armenian government in  implementation of priority programs
Armenia`s producers to get 1% tax reduction for recalling spoiled  productsArmenia`s producers to get 1% tax reduction for recalling spoiled  products
FLY ONE Armenia transported over 200.000 passengers in its first year  in marketFLY ONE Armenia transported over 200.000 passengers in its first year  in market
Armenia`s minister of economy visits ski resort construction project  in Aragatsotn Armenia`s minister of economy visits ski resort construction project  in Aragatsotn 
Pashinyan instructs to find new investors for mines that are  currently not being developedPashinyan instructs to find new investors for mines that are  currently not being developed
AMD 4.676.836 to the “Rehabilitation City of Heroes” psychological center: the next beneficiary of “The Power of One Dram” is the 4090 FoundationAMD 4.676.836 to the “Rehabilitation City of Heroes” psychological center: the next beneficiary of “The Power of One Dram” is the 4090 Foundation
ACBA Bank fourth bank to join government-sponsored 10% cashback  programme for pensioners and reliefersACBA Bank fourth bank to join government-sponsored 10% cashback  programme for pensioners and reliefers
Presentation of Jobbit instrument held in Yerevan Presentation of Jobbit instrument held in Yerevan 
New power unit under construction at Kursk NPP could be serve as  standard for Armenia - ministerNew power unit under construction at Kursk NPP could be serve as  standard for Armenia - minister
Diaspora factor in Armenia`s investment portfolio is decliningDiaspora factor in Armenia`s investment portfolio is declining
Foreign investors present existing problems to Deputy Prime Minister  of ArmeniaForeign investors present existing problems to Deputy Prime Minister  of Armenia
Araratbank to put up for sale another tranche of dollar bonds worth  $3 million on September 8Araratbank to put up for sale another tranche of dollar bonds worth  $3 million on September 8
Ameriabank starts initial placement of another tranche of USD bonds  in amount of $10 millionAmeriabank starts initial placement of another tranche of USD bonds  in amount of $10 million
Pashinyan hopes that Moscow will regard relocation of Russians as  movement within EAEU: Putin sees nothing wrong with thisPashinyan hopes that Moscow will regard relocation of Russians as  movement within EAEU: Putin sees nothing wrong with this
Armenia`s premier on secondary western sanctions over intensified  contacts with Russia Armenia`s premier on secondary western sanctions over intensified  contacts with Russia 
Armenia is very concerned with unblocking transport links with  Azerbaijan Armenia is very concerned with unblocking transport links with  Azerbaijan 
Nikol Pashinyan links economic growth in Armenia with EAEU  regulationsNikol Pashinyan links economic growth in Armenia with EAEU  regulations
IDBank issues the first premium class business cards in ArmeniaIDBank issues the first premium class business cards in Armenia
Kerobyan: More than 50,000 Russian IT specialists arrived in ArmeniaKerobyan: More than 50,000 Russian IT specialists arrived in Armenia
Read more


Exchange rates
30.09.2022
RUB7.570.45
USD405.65-0.28
EUR396.081.84
GBP448.939.35
CAD295.90-0.77
JPY28.080.02
CNY57.140.05
CHF414.06-0.75