Armavia sells 74% of shares

Armavia intends to continue working in the Armenian market despite the fact that it has already announced about suspension of activities and being bankrupt.

The company has already worked out a package aimed at resumption of activities and presented it to the Government.

Armavia is willing to sell the 74% of the shares, including 24.1% to the government and 49.9% to investors, including foreign. Armavia has already found a co-investor, but can’t launch activities since it need responsive steps from the Government.