We try to settle the issue of Armavia's debt to our bank jointly with the Central Bank of Armenia, the owner of the air company and our shareholder as painless as possible, said General Director, Chairman of Directorate of VTB Bank (Armenia) Yuri Gusev today.

It should be recalled that in February 2013, VTB Bank started USD 22mln cases against "Armavia" and Mika Limited trying to return the money allocated to the refund the credits taken by Armavia to purchase Sukhoi Superjet-100 aircraft. At the same time, Armavia stopped the flights and announced the start of bankruptcy procedure in late March.

"We hope to settle the issue as painless as possible both for the bank and the country's economy. The Central Bank and the authorities of the country worked out a number of measures to allow minimize losses both for the company's owner and the banking system. The roadmap on the process is worked out and we agree with it", said Yuri Gusev.

According to him, the fact that the owner of the air company Mikhail Baghdasarov doesn't avoid contacts with the bank is a big advantage. "We talk on a daily basis and try to find an acceptable way out", said the head of VTB Bank (Armenia).