Zhoghovurd: Armavia airline declared bankrupt

The General Jurisdiction Court of Yerevan’s Malatia-Sebastia administrative district has declared Armavia airline bankrupt, Zhoghovurd writes.

The first meeting of lenders is set for December 16.

Mika Limited, which is owned by Armavia owner Mikhail Baghdasarov, had petitioned to the court. The court's ruling says that Armavia owes Mika Limited $38,378,000.