Armavia employees waiting for wages
Former employees of Armenian businessman Mikhail Bagdasarov's Armavia Airline Company, the country's only carrier that launched bankruptcy procedures earlier this year due to grave financial problems, again gathered in front of the Company's office demanding their unpaid wages. As the pilots said the administration had promised them to pay part of the wages but again it failed to keep the promise.
Later in the day, the former employees met with Armavia CEO Norayr Beluyan who again assured the group that the company would pay their wages, without specifying the long-awaited date of payment.
Armavia has not paid its employees since November 2012.
Armenia's last national airline, Armavia, ceased operations on April 1, 2013, over grave financial problems. In a statement released later on the day, the Company linked its inability to pay debts to the consequences of the world economic crisis that has hit the aviation industry hard and has caused the bankruptcy or liquidation of several major carriers such as American Airlines and Russia's Kuban.
Founded in 1996 by Armenian businessman Mikhail Bagdasarov, Armavia owned one Airbus A320, three Boeing 737, and four medium-range planes.
The Company served 48 destinations in Europe, Asia, and North Africa. Armavia's bankruptcy leaves Armenia without a national air carrier, since the other state-owned carrier, Armenian Airlines, went bankrupt in 2003.
