53 Million Dram Loss Due to Anti-Competitive Actions of Travel Companies

The prosecutor has forwarded the materials of the criminal case concerning the directors of seven travel companies accused of anti-competitive activities to the competent court, as stated in the indictment approved on December 26, 2025, by the Office of the Prosecutor General of the Republic of Armenia.

The investigation conducted by the Investigative Committee revealed that the leaders of the seven travel companies operating in the Republic of Armenia intended to eliminate another travel company from the market through anti-competitive actions.

Specifically, as a result of reaching an anti-competitive agreement, the directors of the seven travel companies refused to sell airline tickets to the aforementioned travel company and cooperate with partners working with that company. As a result of these anti-competitive actions, the company in question, facing restrictions in competition, was unable to properly conduct its tourist operations, leading to the inability to organize the return of 130 Armenian tourists who had been transferred to Hurghada, Egypt.

To address the issue, the Armenian government allocated 47 million 198 thousand drams to the Ministry of Foreign Affairs from the government's reserve fund for the transportation of about 130 citizens stranded in Egypt, following the decision 933-N dated July 26, 2019. Additionally, on August 1, 2019, decision 983-N provided another 5 million 838 thousand drams for the same purpose to the Ministry of Territorial Administration and Infrastructure.

On December 16, 2025, the prosecutor initiated public criminal proceedings against the directors of the seven travel companies, and on December 26, 2025, the materials of the criminal case were submitted to the competent court. Meanwhile, the Ministry of Finance of the Republic of Armenia has filed a civil suit to recover the damage inflicted on the state. According to the court's ruling on December 25, 2025, 53 million drams will be confiscated in favor of the state budget as compensation.