Yerevan’s Zvartnots International Airport will undergo a major expansion to keep pace with Armenia’s rapidly growing tourism and air travel, according to its operator.
In an interview with Elite Reports in collaboration with Forbes, Marcelo Wende, CEO of Armenia International Airports, said the company plans to double the airport’s size over the next ten years through a $500 million investment program.
“Passenger numbers have grown far beyond forecasts in the last two years, now reaching over 5.5 million annually,” Wende noted. “Our current terminal was built for just 3–4 million passengers, so expansion is critical to maintain safety, comfort, and efficiency for every traveler. We want every visitor’s first impression of Armenia to be positive and welcoming.”
Wende added that the airport’s current capacity is under heavy pressure due to the rapid increase in passenger numbers. “Our team has worked hard to adapt by upgrading equipment, expanding training, and hiring new staff to keep service levels high,” he said.
The project envisions a large-scale upgrade of the airport’s infrastructure, including:
- Increasing boarding gates from 6 to 16.
- Doubling arrival halls, immigration zones, and customs areas.
- Expanding parking and public transport links.
- Introducing automated digital passport gates and biometric systems to make travel easier for Armenian citizens, especially to Europe.
- Adding new lounges and upgraded facilities.
Armenia International Airports CJSC took over operations at Zvartnots in 2001 under a 30-year concession agreement. The company, owned by the Argentine-American group Corporation America—founded by Armenian-Argentine businessman Eduardo Eurnekian—committed to renovating and expanding the airport. The operator also oversees Gyumri’s Shirak Airport.
Wende recalled that when the company assumed management in 2001, “the airport infrastructure was outdated and close to collapse.” He said the company rebuilt it step by step into a modern terminal that has served the country well for more than a decade. “Now, to match future growth, we plan to double the airport’s size over the next ten years through a $500 million investment. Our goal is to secure Armenia’s position as a competitive hub in the region,” he added.
The agreement aimed to transform Zvartnots into a vital link for tourism and commerce between Asia and Europe while modernizing its facilities and services to meet international standards.
New Routes and Airlines
To strengthen Armenia’s connectivity, Zvartnots is promoting itself as a reliable base for international carriers.
“Ryanair is setting up a base here with two aircraft starting this year, which will open more European routes for passengers,” Wende said. “Flights to India, China, and new Middle East cities are also expanding, broadening Armenia’s network of destinations.”
Notably, on October 1, Hungarian low-cost carrier Wizz Air officially inaugurated its new base at Zvartnots International Airport, operating flights from Yerevan to 16 destinations across nine countries—further strengthening Armenia’s air links with Europe.
A Greener Future: Solar Power and Sustainable Upgrades at Zvartnots
Sustainability is central to the expansion plan. Zvartnots is working with the EBRD and Germany’s DEG Bank to build a solar energy plant that will expand in stages, starting with one gigawatt of capacity.
“This clean energy source will help power the airport and lower our carbon footprint as we handle more passengers,” Wende explained. He added that energy-efficient systems, waste management improvements, and green building standards are being integrated into the design.
Economic and Investment Impact
“As a landlocked country with limited overland routes, Armenia depends heavily on air connections as its main bridge to the world,” Wende stressed. “By expanding capacity and technology, we help drive job creation, attract more tourists, and make Armenia more accessible to global business.”
He also encouraged foreign investors to look toward Armenia: “After two decades of working here, I can confidently say Armenia is open for business and full of potential. The workforce is motivated, eager to learn, and readily adapts to new standards. The business environment is conducive and free from unnecessary barriers for companies looking to establish and expand here. Opportunities extend across aviation, infrastructure, agriculture, finance, and beyond.”
The expansion reflects Armenia’s growing importance as a regional aviation and tourism hub, ensuring Zvartnots remains the nation’s main gateway and a cornerstone of its economic development.
