During his visit to Armenia, Airports Council of Europe (ACI Europe) CEO Olivier Jankovets called on the Armenian government to approve a project to expand the capacity of Zvartnots Airport due to the increase in passenger traffic, which significantly exceeded the pre-Covid figure of 2019.

In particular, he pointed to strong fundamental factors supporting further growth in demand for air travel in the coming years, including Armenia’s confirmed inclusion in the EU’s common aviation space.

“A total of €400 million is ready for investment to double the airport’s capacity for both passenger and cargo traffic. Further delay in this project will only hinder the development of the country and its economy,” said Jankovets.

The tourism sector in Armenia has experienced unprecedented development over the past decade, recording an average annual growth of 15 percent. Tourism revenues account for 15.3 percent of Armenia’s GDP, and pre-COVID visitor numbers topped 4 million, the ACI Europe said.

According to the group’s estimations, 27 percent of visitors come to Armenia from EU countries, 26 percent from Russia and other CIS countries, 5 percent from Iran, 6 percent from the United States. The number of hotels has doubled over the past five years, reaching 710.

In addition to the traditional premium airlines, low-cost airlines such as Wizzair, Transavia, Skyup, Bees, Ryanair, Airbaltic, Fly Pegasus, Fly One and others have begun to appear. fly to Armenia, connecting Yerevan and Gyumri with European countries at a price of 40 euros.

At the same time, on the basis of cooperation between ANIF and Air Arabia, a new Armenian national low-cost carrier Arna was created, which will connect Yerevan with Russia.