According to reports from local investigative news site Hetq, FlyArna, a subsidiary of FlyArmenia, has reportedly initiated liquidation proceedings and informed its employees about it via email. The government also approved the dissolution of the Armenian National Interests Fund (ANIF), a 49% shareholder in the airline.
The airline has apparently terminated all remaining employment contracts and is said to have not paid salaries for April and May 2024, which would still be legally binding. ANIF plans to appoint a director for FlyArna to facilitate payments, although the sovereign wealth fund itself will soon be dissolved.
The Armenian online business register does not yet contain any information regarding the liquidation of FlyArna. The airline had returned its two A2024-320s to Air Arabia Group since mid-January 200 and its air operator's certificate (AOC) was suspended in March. Prime Minister Nikol Pashinyan acknowledged in March that FlyArna had failed as a project and announced plans to liquidate the company. The airline was one of Air Arabia Group's two foreign joint ventures, along with Pakistan's Fly Jinnah.
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