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Armenians need cash

Armenian Governemnt says that Armenian Airlines needs $15m in the next two years

Published: 2/22/2000

Ervand Zakharan, Armenian Minister of Transport, has estimated that Armenian Airlines needs some $15-20m over the next one to two years. According to Zakharan, the airline is on the list of entities identified for privatisation, which is a change from the view in October 1999 when the minister said that the airline"s privatisation, flagged since 1997, was not on the government"s agenda. In 1999, the company recorded losses of 850m drams ($1.6m) and a 34% drop in passenger volume, compared to 1998.The airline has a fleet of 18 aircraft, including a leased A-310-200, and 1200 employees Associated articles: www.concise.org 26th October 1999

Article ID: 1462

 

 

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