ArmInfo.The Armenian government adopted a draft decision on increasing the authorized capital of the Armenian National Interests Fund (ANIF) in order to establish a national air carrier.
In this regard, Director of the Fund David Papazyan noted that thanks to this program, a national air carrier will be established, which from the very beginning has a competitive advantage in the form of 20 years of positive experience of the Air Arabia model.
"I think this for the first time gives us the opportunity to have a national air carrier, whose work is based on a long-term competitive strategy," Papazyan stressed.
He also added that the establishment of a joint venture with the first and largest low-cost airline in the Middle East and North Africa is of great importance in terms of investment competitiveness.
The head of the Fund expressed the hope that the newly established company will become a source of income for the state, will create jobs as well as it will have a tangible economic impact.
To recall, in July of this year, Air Arabia and the Armenian National Interests Fund signed an agreement to establish a new national airline of the Republic of Armenia, which will be called Fly Arna (a derivative of Armenian National Avialines).
It should be reminded that in 2013 Armenia was left without a national air carrier due to the bankruptcy of Armavia, after which Air Armenia left the country's aviation market, unable to withstand competition with Russian carriers.
To note, Air Arabia is an Arab low-cost airline that was established in 2009, headquartered in Sharjah, operating in the market for passenger transportation from Sharjah and Alexandria airports, as well as from four airports in Morocco, to the Middle East, South -East Asia, Europe and the CIS.
The airline is the first low-cost airline in the Middle East and operates flights to 89 cities around the world. The airline has its own subsidiaries - Air Arabia Egypt in Alexandria (Egypt) and Air Arabia Maroc in Casablanca.
