Air Armenia declared bankrupt

The ‘Zhoghovurd’ newspaper reports that the general jurisdiction court of Yerevan’s Kentron and Nork-Marash communities declared Air Armenia bankrupt based on a suit filed by HSBC. 

"The airline’s assets were seized, and the list of potential debtors is now being verified. If it does not want to be declared bankrupt, it has to submit a recovery plan. But the current situation does not seem to inspire any optimism," Sputnik Armenia cited the paper as saying.