Armenias national airline Armavia ceased operations
April 1, 2013 Armavia filed for bankruptcy. This means it has ceased operations effective this day. Founded originally in 1996 and first flew in 2001 the airline formerly set up with another Russian airline S7 Airlines who had 50 per cent investment.
As year progressed ownership and shares were transferred and for the most part had a profitable beginning. Armavia is Armenias national airline. In late 2012 Armavias owner Mikhail Bagdasarov tried to sell the airline but due to global economic downturn and other attributes the airline was forced to cease operations April 1, 2013. Various reports of its existing fleet the airline had. Based on Airline adviser our research and date base from 2009 to date the airline had a total of seven aircraft actually in service.
Source Airline Adviser 04/01/13