“Armavia” air company was founded in 1996 and they had their first flight only in 2001 (after leasing two aircrafts: Tu-134 and Tu-154B). The difficult economical conditions of the company made them join “Siberia Air Company”, after which their financial situation changed rapidly. After leasing an airplane in 2002 (A-320 aircraft) “Armavia” started to operate flights. But at the beginning of 2005 “Siberia Air Company” returned the share of “Armavia” to them. Of course both of these companies failed to give us any information in connection with this news, because they are considered to be as “strategic partners”. According to some officials this was a result of the fact that the position of executive director Andrey Nikitin (he has been the executive director until 2002) was given to Norayr Belloyan. By the way, there was a period when the relationships between these two companies were so bad that “Armavia” “threatened” “Siberia Air Company” not to sell their tickets to domestic travel agencies. Now the Armenian company doesn’t provide cargo transportation. According to our sources, “Armavia” is going to sell their stocks again. It is not clear yet who is going to be the next share holder.
K.T.