YEREVAN.— Armavia owes the government around AMD 24.2 billion ($58 million), out of which 6.9 billion in taxes and 7.3 billion in fees, head of the Public Council said.
During the Thursday meeting of the Public Council, Vazgen Manukyan said Armavia’s overall debt to seven banks totals $35 million. The air company’s overall debt makes around $93 million
Armavia has a debt restructuring program, while debts to state budget will be replaced by Armavia shares.
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