On November 27th, at the "De Facto" Club, Armavia Airlines owner Mika Baghdasarov talked about the economic crisis, its affect on the airline industry and specifically how Armavia Airlines is weathering the storm. He noted that, "Throughout the world the airline industry is in a tailspin linked to the economic crisis" and that large companies like Russia's "Union" and Italy's "Olympic" are facing bankruptcy today. As for Armavia, Mr. Baghdasarov commented that not only has the company not experienced any negative fall-out from the crisis but that it is growing at fast rates. "Due to the economic crisis, a large number of aircraft is flooding the market. These planes are being solf off at inexpensive prices by large companies facing bankruptcy. In addition, many flights are being cut back and this opens numerous possibilities for young, developing companies to expand into these markets." Presently, Armavia is looking to purchase new aircraft and to launch the planed for Yerevan - Los Angeles and Yerevan - New York direct flights it has obtained the rights to. The company is now in the market for either the Airbus 330 or Boeing 777 aircraft suitable for such long-hauls. Mr. Baghdasarov spoke out against the government's plan to include the 10,000 airport exit fee into the price of airline tickets arguing that it might scare away foreign visitors. "They come to Armenia and when they wish to leave they receive such a pretty present, a 10,000 dram required payment."