Aravot asked Davit Papazyan, the director of the Armenian State Interest Fund (ANIF), when we should expect the first flight of Fly Arna airline and at what stage is the process in? In September of this year, ANIF and “Air Arabia” airline announced a new national airline launched by the joint venture, and “Fly Arna” was chosen as the name of the company. It will operate as a budget passenger airline based at Yerevan’s Zvartnots International Airport. Davit Papazyan said that “Fly Arna” will start operating in April and May of next year.
“That is, from April to May, Fly Arna will start operating regular flights to the four initial destinations. Then we will have 2 planes. We will increase the number of planes and directions through the stages of the project. In five years there will be 15 planes.”
In response to our question of how the Armenian government recently allocated $10 million to Fly Arna airline, and if it is a foreign investment, why does the state also invest money, what is the purpose of creating ANIF, are there any other example of countries where the state participates in investments through the state fund?
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Davit Papazyan answered, “Honestly, it is not our mandate to label it as a foreign investment or to give it another label. Our mandate is in two directions: to attract foreign investments and follow the implementation, and to invest capital in the Armenian economy, in Armenian companies. Very often our two mandates intersect and this is the most obvious example where the Emirati side invests so much money, and the Armenian side does so in the form of ANIF, too.”
Mr. Papazyan said that different algorithms were discussed and they came to the conclusion that the most open and non-threatening algorithm to economic competition is to invest capital, and the state interest should be represented in the form of capital and not in subsidies or privileges. “It was important that local airlines are established and will continue to be established in Armenia, and ANIF does not want to hinder the larger programs taking place in the country by solving its narrow issues,” said the director of ANIF.
Lusine BUDAGHYAN
