Since all passenger rights were granted on an exclusive basis to Armavia in 2003, Air Armenia could only operate cargo aircraft.

[5][6] A Ukrainian investment fund announced the purchase of a 49 percent stake in Armenia's leading airline in December 2014, pledging to help restart soon its commercial flights.

Vladimir Bobylev, the chief executive of the East Prospect Fund, pledged to invest at least $30 million in the troubled Air Armenia carrier.

Armenian news agencies quoted him as saying that it plans to replace and expand the company's small fleet of aircraft in the coming months.

[7] Air Armenia served the following destinations :[8][9] (all flights suspended) This article relating to a European airline is a stub.