Armenia making huge progress in the aviation industry
Not only have the latest investments (Armenia getting aid boost from the EU, Abu Dabi firm investing $174 million in a solar farm in Armenia) made July a good month for Armenia, but also new airlines confirmed that they will begin operating flights to and from Armenia soon.
These aviation news are targeted at boosting trade, tourism, investment, and economic development in Armenia.
Low-cost National Airline
Armenia will finally have a national low-cost airline. On July 14, the Armenian National Interests Fund (ANIF) and Air Arabia airlines signed an agreement on the establishment of national airlines.
Acting Deputy Prime Minister of Armenia Tigran Avinyan noted an independent joint company will be established, which will be based at Zvartnots Airport. He is more than sure the project will be a success since the best professionals are engaged in the project. The Armenian side will have more than 50% of the shares, but Air Arabia will make the decisions.
EU Aviation Agreements
On June 28, 2021, the EU Council gave the green light for the signing of three neighborhood aviation agreements – with Ukraine, Armenia, and Tunisia. The agreement will remove market restrictions in relation to the EU’s neighboring countries and associate these countries with the EU’s internal aviation market.
The Council is now ready to sign four important aviation agreements that will improve market access for airlines and enhance connectivity and freedom of movement for citizens. At the same time, they will ensure the highest level of safety and security and provide for a level playing field.
— Pedro Nuno Santos, Portuguese Minister for Infrastructure and Housing, President of the Council
These agreements will open up the air transport market, offering new opportunities for both consumers and operators. Further details are available here.
National Air Carrier
Armenia will have a new national air carrier in the near future. Sil Group Armenia in cooperation with Moldovan FlyOne company will present FlyOne Armenia company soon.
Not only will the project restore the institution of Armenian pilots, but also create 135 jobs with an above-average salary.
Lufthansa Airline
The German-based Lufthansa airline will be entering the Armenian market operating flights between Frankfurt (Germany) and Yerevan. Flights from Yerevan to Frankfurt will operate on Mondays, Wednesdays, and Fridays, and from Frankfurt to Yerevan on Tuesdays, Thursdays, and Sundays.
Vienna
From 7 July 2021, Wizz Air has relaunched its flights Yerevan-Vienna-Yerevan for as low as 27 EUR. The flights are operated once a week, every Wednesday.
We’d like to remind you that in spring 2021, Bees Ukrainian low-cost airline also announced about entering the Armenian market. The airline will operate flights connecting Kyiv, Odessa, and Yerevan for as low as 50 EUR.
Interested in investing in Armenia? At Kingsmen Investments, we are ready to address all your concerns and guide you through your investment journey in Armenia. Check out our investment opportunities here or give us a call at (+374) 95 110 301. High return on investment guaranteed!