Armenian Airlines

Armenian Airlines from 1991 to 2004, the national airline of Armenia.

History

Armenian Airlines was founded shortly after independence in 1991 and had held a monopoly until 2002, when the private competitors Armenian International Airways and Armavia appeared on the scene. The main base was the international airport of Yerevan ( Zvartnots ). Until 1997, Armenian Airlines was profitable. For the losses in 1998, the director Arsen Avetisyan blamed the then economic crisis in Russia. As Armavia (then belonging to Siberia Airlines ) signed a contract with the Armenian government completed, the Armavia secured lucrative routes such as Moscow - Yerevan, began an inexorable descent of Armenian Airlines. 2004, the company had to file for bankruptcy.