CORPORACION AMERICA LEASES ARMENIA’S SECOND LARGEST AIRPORT
ARMENPRESS
Aug 3, 2007
YEREVAN, AUGUST 3, ARMENPRESS: The government of Armenia has allowed
Corporacion America A.A., an Argentinean company, owned by an ethnic
Armenian, to lease Armenia’s second largest airport in the town of
Gyumri for 30 years.
Argentinean Armenian Eduardo Eurnekian, who operates 33 airports
across South America, owns Corporacion America, which had signed a
30-year management contract with the Armenian government in December
2001 and took over Zvartnots several months later.
The news was heralded today by Artem Movsisian, head of the government
affiliated Civil Aviation Department.
He said the Argentinean company will have to turn the airport in
Gyumri into a first-class airport. The company has pledged to invest
$10 million this year to start modernization program.
Within next years it will invest more to make the airport comply with
international standards. Among other commitments is to provide free
landing and take-off services to Armenian defense ministry.