Thursday, October 14 2021 18:11
Alina Hovhannisyan

Armenian government approves draft decision on increasing ANIF  authorized capital

Armenian government approves draft decision on increasing ANIF  authorized capital

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.


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