An investment contract between S7 Airlines and Armavia was signed on 14 March 2003, at which point 68% of Armavia's shares were owned by S7 Airlines, and the remaining 32% by Mika Armenia Trading.
Kontrak investasi antara S7 Airlines dan Armavia ditandatangani pada 14 maret 2003, yang menyatakan bahwa 68% saham Armavia dimiliki oleh S7 Airlines, dan sisanya sebanyak 32% dimiliki oleh Mika Armenia Trading.