YEREVAN. – Armavia Airline Company, which is Armenia’s national carrier, issued the list of its debts owed to the country’s state budget, 168 Zham daily reports. 

“As a result, including from 2010 to 2012, Armavia accrued a debt of 24,269,365,000 drams [approx. $59,101,638] to the state budget. The company, however, states that solely around 7 billion [drams (approx. $17,046,654)] from this amount is the actual debt, whereas the remaining 17 billion [drams (approx. $41,399,016)] came about as a result of the penalties that were applied to the company over the course of the three years.

The company comments that, due to its debt to the state budget, the tax inspectorate plans to apply to court to freeze the airline company’s accounts, but this, in its turn, “will not permit, in principle, the implementation of the company’s recovery and reform option,’” 168 Zham writes.