ARMAVIA LOWERS TICKET PRICES BY 8%-31%

ARKA
Dec 17, 2008

YEREVAN, December 17. /ARKA/. Armenia’s national air carrier Armavia
has reduced ticket prices by 8%-31%, reported Rafael Avetikyan,
head of Armavia’se aviation security department.

The reason for price reduction is the drop in aviation fuel prices,
he said, adding from January 28 to February 23 Armavia offers 20%
discount for men 25%above 20 and women serving in the RA Armed
Forces. The company also offers a disocut of 25% for its female
customers from March 8 to April 7.

"Armavia does not plan New Year discounts, as there are no such
campaigns anywhere," Avetikyan said.

Leader in Armenia’s aviation market, Armavia was established by Aviafin
Ltd and Mika Armenia Trading LLC in 1996. President of MIKA Armenia
Trading Mikhail Baghdasarov is the absolute shareholder of the company.

Armavia currently operates flights to the CIS and Russia, as well
as Middle East and Europe, organizing over 70 flights weekly to 35
destinations in the CIS and Europe.

Armavia’s fleet consists of nine aircrafts, including two A319
airbuses, two A320 airbuses, one Boeing 737, one CJR-100ER, one Yak-42,
one Tu134 and one IL-86.