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ARMENIA DAILY DIGEST
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From: Ina Iankulova (iiankulova@sorosny.org)
Date: Mon Apr 14 2003 - 12:35:08 EDT
ARMENIA SET TO LOSE NATIONAL AIR CARRIER
Officials of the Armenian Airlines on 12 April confirmed reports that the national carrier will be forced to suspend all flights as it faces bankruptcy, according to Armen Press. Armenian Airline, the country's largest air carrier, is more than $20 million debt and has a long record of inefficiency. The Russian Armavia company is now set to emerge as the country's largest airline, with preparations in place for flights to 17 foreign cities and plans to increase the its passenger volume and to modernize its fleet. The Russian airline is also considering purchasing the remaining domestic routes for an estimated $15 million. RG
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