Long-Operating Airline in Armenia Declared Bankrupt

The airline "Atlantis European Airways," which has been operating in Armenia for many years, has been declared bankrupt. It has been reported that the airline was facing serious issues prior to this announcement.

According to the newspaper "Zhoghovurd," the airline's planes have been grounded for an extended period, and there were even rumors that they had been sealed (stamped). Sources indicate that financial problems are the primary reason for this situation. Furthermore, persistent reports suggested that employees of the airline had not received their salaries for a long time.

The newspaper has learned that the decision of the Armenian bankruptcy court came into legal force on September 15 of this year. Subsequently, on September 23, the same court appointed Hovhannes Yeghiyan as the manager of the bankruptcy case.

It is noted that one of the commercial banks in Armenia filed a demand for the airline's bankruptcy, claiming the airline owes approximately 5 million drams.

Read the full article in today's issue of the newspaper.