Fly Arna Declared Bankrupt

On January 27, the Armenian National Airlines LLC, better known by its brand name Fly Arna, was declared bankrupt by the Bankruptcy Court, reports Hetq.

It is noteworthy that the airline, founded in December 2021 and which started flights in July 2022, ceased its operations in January 2024. It was announced in March of the same year that the company was shutting down.

The founders of Armenian National Airlines LLC are three entities: the Armenian National Interests Fund (49%), a state entity better known as ANIF, the International Business Company (FZE), a subsidiary of the Arab airline Air Arabia based in Sharjah (49%), and Lebanese-Armenian economist and businessman Varoujan Nergizian, who is involved in the financial and banking sector of the Arab world.

Air Arabia was the managing organization of Fly Arna. The direct executive leadership of the Armenian-Arab joint airline was held by its CEO, Anthony Price, a representative of Air Arabia.