Armavia is ready to place shares in London but is waiting for the end of crisis

26.10.2009 20:39
Armavia is ready to place shares in London but is waiting for the end of crisis

МАНАМА, October 26. /ARKA/. National air carrier of Armenia, the company “Armavia” is ready to place its shares in London stock exchange but is waiting for the end of world crisis”, said Mikhail Baghdasarov, Director of the company.

“I think that the crisis will come to an end and IPO will be implemented if this instrument will be still effective, because the market is developing regularly and there are already discussions for investment of new formula. But we are ready for IPO and other new steps”, said Baghdasarov in international airport Bahrain on Monday to the journalists of ARKA. On Monday “Armavia” started to make new flights to Manama, the capital of the Kingdom Bahrain.

Commercial Director of the company Julienne Dyufur said that International Finance Corporation (IFC) suggested “Armavia” to place IPO in London stock exchange. Dyufur said that the company has transparency and efficiency of corporate management.

It means that it has all the perspectives for IPO, if the management and shareholders of the company carry out such a decision. Armavia was established in 1996 and in 2005 full package of shares was transferred to Mikhail Baghdasarov, President of the company “Mika Limited”.

There are three А-319, two А-320, as well as Boeing 737-300, CRJ-200, TU-134. At present, the company makes about 250 flights monthly at more than 30 directions.--0—


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