ZVARTNOTS INTERNATIONAL AIRPORT

In 2002, our subsidiary Armenia International Airports CJSC ("AIA") was awarded the concession to operate the Yerevan International Airport "Zvartnots", Armenia's main airport.

In 2007, we executed an amendment to the Zvartnots Airport concession agreement to include the Shirak Airport, the second largest civil airport in Armenia. Strategically located at the crossroads of Europe and Asia, Zvartnots has become a regional hub with capacity to handle more than 3 million passengers a year. Since we were awarded the concession in 2002, we have modernized Zvartnots Airport including a renovation of the runway and the development of a new 50,000 square meter terminal. Both terminals have anti-seismic technology in place, intelligent heat-light control systems, and use technology for passenger safety and in customer service. All this raises the airport to the highest standards required by international air transport organizations. During the year 2019, 3.0 million passengers used the Zvartnots Airport and 148 thousand passengers used the Shirak Airport.