Air Arabia preparing to launch arbitration against Armenia

Armenian National Airlines CJSC, better known as Fly Arna, has not made flights since Jan. 16. This airline was a result of Armenian-Arab cooperation. Its 49% belonged to the Armenian National Interests Fund CJSC (ANIF), which was a state fund and is currently going into liquidation. Another 49% belonged to Air Arabia airline.

The owner of the remaining 2% was Armenian citizen Varuzhan Nergizyan, who was born in Aleppo and works in the business sectors of the United Arab Emirates, Lebanon and other countries of the Middle East.