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Armenian Airlines |
Armenian Airlines was the flagship carrier of Armenia, the country located in the Eurasian region till the year 2002. Armenian Airlines had a huge operation throughout Armenia and all other major countries in the Eurasia region. The Republic of Armenia is a landlocked country located right in between the Caspian Sea and Black Sea in the Southern part of Caucasus. Armenia or the Republic of Armenia shares its borders with Georgia in the North, Azerbaijan in the East, Nakhchivan exclave and Azerbaijan in the South and Turkey in the West. Armenia is actually a transnational country at the juncture of Western Asia and Eastern Europe and is one of the most well developed in the Eurasian region. Armenia has got quite a flourishing economy and is very well connected with all other countries in the Eurasian region, thanks to the excellent service network of Armenian Airlines.
| Armenian Airlines was established in the year 1991, just after the independence of the country from the Aeroflot's directorate and was one of the most dominant state-owned airlines in the Eurasian region. Armenian Airlines had a huge reputation for its excellent operation in this part of the world but started loosing its ground since private airlines like Armavia and Armenian International Airways came up as strong competitors. Since the beginning of its operation in the year 1991, Armenian Airlines earned huge profit on a continuous basis till 1997 but from 1998 it started facing a decline in its revenue earning.
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Though Arsen Avetisian blamed the economic crisis in Russia as the reason behind this decline it was found that major technical and financial problems also lead to the decline of the profit level of the company. Though VG Airlines, a new Belgian-based airline of that time started co operation with Armenian Airlines it didn't last long as it in itself faced bankruptcy in November, 2002. Armenian Airlines was unable to recover from its financial loss, when Armavia (which was a subsidiary of the Siberian Airlines) entered into an agreement with the Armenian government and was granted several flight rights of Armenian Airlines. It was on April 15, 2003, that Armenian Airlines was declared bankrupt. At present Armavia is the successor of Armenian Airlines.
Speaking about Armenian Airlines it is important to mention about Zvartnots International Airport, which served as its major hub. Located near Zsvartnots, a little away from Yerevan, the capital of Armenia, Zvartnots International Airport is one of the largest airports in the Eurasian region and has got a very good infrastructure. The airport was built in the year 1961 and was renovated in 1980.
Keep browsing through the website to know more about Armenia.
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