YEREVAN. – The Armavia airline company, which was the national carrier of Armenia and which had declared bankruptcy, is eleventh in the list of the country’s 1,000 large taxpayers in 2014, Zhoghovurd daily reported.

“Armavia, which belonged to well-known oligarch Mikhail Baghdasarov, had suspended flights since April 1, 2013, and the company was declared bankrupt last fall. The company has about 130 creditors.

“Zhoghovurd studied the period of ‘florescence’ of Armavia’s activities, but even during that time Baghdasarov’s company had not been in the top 20 of large taxpayers [of Armenia].   

“In actual fact, Armavia automatically appeared in the list of the majors by paying a substantial portion of the accumulated debts,” Zhoghovurd wrote.