In an interview with Tert.am, Air Armenia CEO Arsen Avetisyan agreed that damping policies by Russian airlines may be the reason behind the company’s financial difficulties, but he denied the report about a possible bankruptcy.
Mr Avetisyan, reports say that the company has debts amounting to 5 million Dollars and may be declared bankrupt soon. Also, problems with the purchase of aircrafts were reported.
I don’t know who commissioned [such a report], as this is the second time I hear disinformation. Perhaps they feel happy that we have problems … I don’t know who does it.
So you actually confirm that you have problems.
We have technical problems; our A320 aircraft has flown to Amsterdam through Paris for a planned technical maintenance checkup. The second plane was due to leave for a shorter period, and it is there at the moment. I don’t have an aircraft in Dubai, as the report said, so the second plane will return after the checkup. The other plane will be there for 21 days. It wasn’t planned, so we are not able to serve the scheduled flight with only one aircraft. Hence we have merged two flights. Yes, we do have problems, and I have to borrow a plane from partner companies to secure the flight till my aircraft returns.
And what about financial problems?
Any air company around the globe has financial problems, but given that we have enough means in circulation, we manage to resolve our financial problems. So bankruptcy is out of the question.
You say any air company has financial problems. So don’t you attribute that to damping policies by Russian airlines?
Yes, those statements may be linked to certain steps by the competitors. And the letter which I received from Rosaeronavigatsia was very conscientiously and affably written. But the information published was absurd. And it caused financial problems, as all debitors now avoid paying money to us. They say we may not be able to serve flights, causing them to cover the return [costs] of air tickets on their own. So they all began demanding the money back, afraid that our company may go bankrupt.
Armenia is re-establishing its jewelmaking traditions to become a regional center of jewelry arts.
As part of the efforts to realize the idea, the Armenian Jewelers Association (AJA) has for the fourth time (since 2011) invited the world’s best Armenian jewelers to the country for the annual Yerevan Show 2014event. This year’s exhibition is expected to attract guests from around 27 world countries (US, Canada, France, Italy, Belgium, Switzerland, Czech Republic, Russia, Turkey, UAE, UK, Lybia, Kuwait, India, Jordan, Argentine, Japan, Belarus, Australia, Estonia, etc)
It will bring together over 150 well-known jewelry and watchmaking companies, and about 500 foreign customers and high-ranking guests. Also, some 25 local companies are going to join the exhibition.
An Armenian opposition lawmaker on Friday expressed his criticism of the politicians who often link plans for public demonstrations with crowds’ willingness to join them.
Speaking to reporters at a National Assembly briefing, Aghvan Vardanyan of the Armenian Revolutionary Federation-Dashnaksutyun (ARF-D) described such attempts as a mere manipulation.
“I have always said that it is it is normally the majority that forms the minority’s opinion. I mean political figures, the elite and representatives of the cultural world. So it isn’t right to cover up oneself behind the people,” he said.
Armenian President Serzh Sargsyan on Friday took part in the opening of DigiTech Expo-2014, the annual technological exhibition held at the Yerevan Computer Research and Development Institute.
Touring the traditional pavilions, the president met with representatives of the 130 companies participating in the event to listen to the proposals relating to the telecommunication and comprehensive network engineering solutions, technological and web software etc.
He also talked to the participants to over their companies’ activities, problems and future development plans, reports the presidential press service.
Following the CIS Heads of State’s meeting in Minsk, Belarus, October 10, when Armenia will probably have joined the Customs Union, and the guidelines for Armenia-EU cooperation will be clear and an Armenia-EU meeting will take place in Brussels, this November, Reiner Morell told reporters on Friday.
The sides are conducting a dialogue, which has never been interrupted. Although the contacts have not been so active as during the drafting of an association agreement, the two sides have carried out relevant work. The dialogue is continuing, and an Armenia-EU meeting is to take place in Brussels this November. The sides will continue their negotiations and specify certain issues.
In response to Tert.am’s question about Armenia’s benefits from accession to the Customs Union, Ambassador Morell said that, last September, Armenia’s President Serzh Sargsyan wished to join the Customs Union. Working groups were formed to draft relevant texts on Armenia’s accession to the Customs Union. The date of Armenia’s accession is not known.
Asked about the Armenian authorities’ signals, Ambassador Morell said that the EU is expecting Armenia to clarify how it wants to or can move forward, after which the format of the relations can be identified.
Mikael Melumyan of the opposition-leaning Prosperous Armenia party (PAP) says their political force sees absolutely no taboo about a political demand for radical reforms.
Speaking to reporters at the National Assembly today, the lawmaker stressed the importance of maintaining a dialogue with other parties to clarify positions. “We know the situation, of course, but we have to nonetheless make clear how the things are going on. The party’s leader [Gagik Tsarukyan] meets with the heads of different [political] forces, representatives of the cultural world and intelligentsia to know the demands of the different classes. Once we make sure there is the public demand, we’ll have that worded to clarify the quality and tensity of the rally,” he said.
Elinar Vardanyan, another PAP lawmaker also attending the briefing, agreed that the party never declares any political question or agenda a taboo. “If special demands mature and become clearly worded, the PAP will guide its policies based on the people’s demands,” she added.
Before Apple became its nemesis, the major foreign rival for Samsung Electronics was Sony. The Japanese company was far ahead of Samsung in developing innovative devices that consumers craved, and Samsung’s rise as a global power neatly coincided with Sony’s decline. Samsung is the top television brand around the world, for instance, while Sony’s TV business has lost money year after year. Samsung is the world’s top smartphone, while Sony has just 3.5 percent of the market worldwide.
So Samsung executives might take some satisfaction from the latest sign of Sony’s decline. Sony shares plunged as much as 13 percent in Tokyo trading today following the company’s announcement yesterday it would post a net loss of 230 billion yen ($2.1 billion) this fiscal year because of weakness in its Xperia smartphone business. Sony also announced it will lay off 1,000 of the 7,100 workers in its smartphone division.
Samsung can’t rejoice in the misfortune of its longtime rival, though. Sony’s woes are not just the result of management miscues at the company. They’re also a sign that mighty Samsung itself may be in trouble. Like Sony, Samsung has long relied on Android smartphones to compete against Apple’s iPhone. However, that’s becoming more difficult as the new iPhone 6 grabs attention among premium users and Chinese brands like Xiaomi and Huawei gain ground with inexpensive Android handsets. Further adding to the pressure, Google is helping Indian brands roll outAndroid One phones that cost as little as $100.
As analyst Harrison Cho of Samsung Securities (yes, Samsung) writes in a report published today, “the Android camp is being stifled with competition, as Apple leads the high-end segment.” Companies with Android phones “should continue to face downward earnings revisions and share-price corrections.”