Context
ANIF and Air Arabia established a joint venture to launch Armenia’s national low-cost airline.
Objective
Create a carrier with an international industry partner and establish commercial operations.
Role
ANIF portfolio during Aleksei Veretenov’s tenure as Deputy CEO and Vice President for Strategy and Marketing.
Approach
- Airline joint venture creation.
- Low-cost operating model and launch preparations.
- Route development and corporate governance framework.
Outcome
Fly Arna operated its first commercial flight on 3 July 2022; ANIF held 49% and the joint investment totalled $20m as reported in 2022. Subsequent developments are not represented here as project outcomes.