Armenia’s Armavia owes Russian companies 54 million rubles

Armenia’s national airline Armavia owes Russian companies overdue debts totaling 54.2 million rubles, Lenta.ru reported, citing Ross Aviation’s press statement. 

Armavia owes Moscow’s Vnukovo Airport 44.3 million rubles. The air company’s debts to the airports of Sochi and Krasnodar total one million rubles.

Also, Armavia owes Ross Aviation $288,000 (more than 8.9 million rubles) for air navigation services in January 2013. 

Armavia’s press service reported on Friday that the airline will stop flights starting April 1.

“For now, the situation is that it is no longer possible to work and therefore it was decided to stop the flights and start the bankruptcy procedure,” the company’s press statement said.