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ARMENIA DAILY DIGEST
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From: Ina Iankulova (iiankulova@sorosny.org)
Date: Mon Apr 07 2003 - 12:57:37 EDT
STAFF FACES REDUNDANCY FOLLOWING ARMENIAN AIRLINES
Some 1,400 employees of Armenian Airlines, including many of the company's 320 pilots, are likely to lose their jobs if, as anticipated, the company is declared bankrupt on 15 April, RFE/RL's Yerevan bureau reported on 4 April. The Armenian government has sold Armenian Airlines' flight rights to the private carrier Armavia, which is 70 per cent owned by Russia's Siberian Airlines, for $15 million. Armavia has pledged to pay within six months a total of $1.5 million in back wages owed by Armenian Airlines to its staff, Noyan Tapan reported on 1 April. Armenian Airlines' total debts are estimated at $25 million. LF
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