YEREVAN. - Russian tour operator Tez Tour shut down its Armenian branch and left local touristic market. The company dismissed all the employees, despite of its initial intentions to enlarge touristic business in Armenia, a source from Tez Tour Armenian branch told Armenian News-NEWS.am.

Tez Tour had certain problems with local Magic Time company, that owed the former $400 thousand, however did not hurry to return the debt.  Instead it turned to its “roof”, the law enforcement officers.

The decision to leave Armenian market was adopted under pressure from local power structures that "support" Armenian tourism industry, virtually extorting money from Russian companies in favor of local ones, Tez Tour head office said to TOURPROM correspondent.

The fact that Tez Tour left Armenian market implies price jump for tours to Antalya and Egypt, as the company maintained direct flights in these directions.