YEREVAN. - Air Armenia is returning to the market despite being recognized as a bankrupt last year. The Court of General Jurisdiction of Kentron and Nork Marash Administrative Districts has confirmed the airline company rehabilitation plan. 

“The plan presented by us was approved at the meeting of creditors, and then confirmed by the court. I think we will return to the market already in summer,” the company spokesman Sirak Hambartsumyan told Armenian News – NEWS.am correspondent.

In his words, the company must first extend the terms of certificates and then restore the flight codes.

“There will be changes in the business plans, since another Armenian airline company has also appeared in the market,” he added.

On 12 August 2015, Air Armenia announced that it had received $68 mln investments. Nevertheless, the Court of General Jurisdiction of Kentron and Nork Marash Administrative Districts recognized the company as a bankrupt.