Armavia Company owes not only to its former staff, but also to many companies and banks, a Yerevan-based "Zhoghovurd" Company writes.
Talking to the newspaper, Mikhail Baghdasarov, the owner of the company, said he plans to cover all the debts. "Part of the debts has been redeemed. I have set to auction two apartments. When they are sold, I will cover the debts. I will sell everything to cover the debts," Baghdasarov said.
As it was reported earlier, Armavia owes 24.2 billion AMD (about 58 million US dollars) to the Armenian state budget, including 6.9 bln AMD in taxes and 17.3 bln in fines. Besides, the company's debt to VTB Bank has reached $12 million, inclusive of interests and fines. The company was established in 1996 and belongs to Mikhail Bagdasarov, who owned several enterprises, including Armavia and Mika Stadium.