(Read full article on hetq.am)

On July 14, 2021, an agreement was signed between the State Interests Fund of Armenia CJSC and the subsidiary of the Air Arabia airline, by which the parties undertook to create a national air carrier in Armenia. To this end, the government at today’s meeting made a decision to increase the authorized capital of the State Interests Fund of Armenia CJSC by 4 billion 733 million 720 thousand AMD in order to purchase shares of the newly created airline.

“The decision reflects the political will of the RA government to create an Armenian air carrier. This, however, does not mean that there should be no new Armenian airlines in Armenia. The government of the country and the Air Arabia subsidiary will introduce $ 10 million each, ”Prime Minister Nikol Pashinyan said during the discussion. The airline, according to the prime minister, will receive the name “Arna”.

The airline will be operated by Air Arabia, the first and largest low-cost airline in the Middle East and North Africa.