Armavia

Air Company "Armavia" (Armenian: Արմավիա) is an airline with its head office on the grounds of Zvartnots International Airport in Zvartnots, Armenia, near Yerevan. It operates international passenger services from Yerevan to destinations in Europe and Asia. Its main base is Zvartnots International Airport.

History

The Armavia company was established in 1996, but commercial flights to Russia and Turkey only started in 2001. In 2002, a strategic alliance was set up with the Russian airline S7 Airlines which purchased 50% of Armavia's shares from the "Chernomoravia" company under the name of the "Aviafin" company registered in Armenia but which belongs to the leadership of S7 Airlines as natural persons. Later, it bought an additional 18% of shares from Mika Armenia Trading company owned by prominent Armenian businessman Mikhail Baghdasarov. An investment contract between S7 Airlines and Armavia was signed on 14 March 2003, at which point 68% of Armavia's shares were owned by S7 Airlines, and the remaining 32% by Mika Armenia Trading.

In 2003, Armavia overtook a part of the bankrupt Armenian Airlines' flights. In 2005, Mikhail Baghdasarov's Mika Armenia Trading bought S7's 68% of shares and became Armavia's principal shareholder with a 100% stake in the company. In 2005, the airline transported 513,800 passengers with over 550 people in its personnel. The turnover for 2005 amounted to roughly $90 million. In 2007, the airline transported 572,300 passengers by regular and charter flights, which is a 21% increase compared to 2006.

The airline is owned by MIKA Armenia Trading (100%).

In 2010, the airline transported over 800,000 passengers.

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