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Air Armenia delays flights until March 2015 (video)


Air Armenia Company planned to resume flights from December 20, but had to wait a little because of finances. The company’s executive director Arsen Avetisyan says flights will be resumed from March 2015. “Unfortunately, we were unable to find funds before December,” said Mr Avetisyan. A week ago, the company signed a contract with the East Prospect Fund British Virgin. “We have reached an agreement to invest $ 30 million into the Armenian company at the initial stage,” said Vladimir Babiliov, Manager of the Fund. He stressed that his company is not registered in offshore zones and they only want to help the Armenian national carrier. The company already owns 49 percent of Air Armenia’s shares. The partner company registered on the British Isles also wants to operate flights to the Middle East and Asia.