In 2005, Mikhail Baghdasarov's Mika Armenia Trading bought S7's 68% of shares and became Armavia's principal shareholder with a 100% stake in the company.
Pada tahun 2005, Mika Armenia Trading milik Mikhail Baghdasarov membeli 68% saham dari S7 dan menjadi pemilik Armavia dengan kepemilikan saham 100%.