ArmInfo.Fly Arna national air needs additional funding. Armenian Minister of Economy Vahan Kerobyan told reporters during a briefing on December 1, answering a question regarding the possible cessation of flights by the airline in Armenia. "I do not have such information. I know that the company needs additional financing, and this issue is now being discussed. I think appropriate solutions will be found. We are working with the company," the minister noted.
However, he did not specify what decisions he was talking about.
Let us recall that in connection with the widespread rumors about Air Arabia's intentions to leave the Armenian air transportation market already in December of this year and withdraw from the authorized capital of the established joint airline Fly Arna, at the request of ArmInfo to comment on this news, the Civil Aviation Committee of Armenia stated that they did not have information about the company's possible withdrawal from the Armenian market.
As sources close to the Arab airline told ArmInfo, the reason for this intention was the failure of the Armenian side to fulfill a number of agreed upon agreements. Let us remind you that on December 10, 2021, Armenian National Airlines CJSC received state registration and began operating in Armenia under the Fly Arna - ARmenian National Airlines trademark.
The project to establish a new airline became known in July 2020, when the executive director of the Armenian National Interests Fund (ANIF) David Papazyan and the general executive director of the Ali al Ali budget airline based in the Arab Sharjah signed an agreement.
Initially, it was known that the newly established company would operate on a low-cost business model, in other words, it would be an Armenian low-cost airline (such airlines offer passengers low prices, but at the same time an incomplete, that is, not a generally accepted list of services).
