The government decided today to increase the statutory capital of the Armenian National Interests Fund (ANIF) today. The money to be allocated will be used to establish a national air carrier as a result of a memorandum signed with Air Arabia on July 14.
“This decision fulfills the promise made by the RA Government some time ago to create a national air carrier. We attach importance to the fact that we made the deal as a result of calculation, professional evaluation and got the most viable model,” ANIF CEO David Papazyan said.
“With this program, we are creating a national competitive air carrier, which has a competitive advantage from the very beginning, i.e. the positive experience of the Air Arabia model of about 20 years. I think this gives us the opportunity for the first time to have a national air carrier based on a long-term competitive strategy,” he added.
He said this his model is more viable as it brings with it a proven, successful model, professional management and experience in developing a long-term strategy.