Armavia CEO blames poor management for bankruptcyApril 11, 2013 - 19:45 AMT PanARMENIAN.Net - The chair of the Public Council of Armenia named bad management, high prices and insufficient governmental involvement among reasons for Armavia air company’s bankruptcy. As Vazgen Manukyan stated at the April 11 hearing on Armavia bankruptcy, on April 18, the Council will submit a final conclusion on the issue for the government’s consideration. As Manukyan noted, Armenia must have 2-3 competing air companies to curb monopoly and provide transparency in the sector. Armavia CEO Norayr Beluyan, in turn, stressed that a national air company with a 51% governmental share is necessary in order to provide proper management. He further agreed with Manukyan as to poor management in Armavia. The General Manager of Armenia-International Airports CJSC Marcelo Wende, in turn, noted that currently, many companies are interested in operating flights to Armenia, which will help decrease the prices. As he noted, forming a new company will take up to 1 year. The head of Krunk Air Vladimir Poghosyan expressed readiness to get a certificate for flights operation. “We have enough funds to purchase 8 planes to form an air company within 2-month period,” he said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |