Armenian flag carrier Armavia is considering acquiring an equity stake in Georgian Airways.
Speaking at a briefing in Yerevan on 6 July, Armavia's owner and president Mikhail Bagdasarov said he had received a proposal from Georgia to this end.
"It is a discussable proposal. Georgian Airways is a fairly efficient private company with a good image and potential," he said, adding that the decision has not yet been taken on the matter.
Georgian Airways director of public relations Nino Giorgobiani indicated that the two sides are in active negotiations about various forms of co-operation.
"We do not rule out that it could include acquiring a shareholding in our company," she said. "But it's outright sale is not on the agenda."
Tbilsi-based Georgian Airways is the nation's major carrier, serving a dozen cities in Europe and the Middle East with five Boeing 737s and four Bombardier CRJ100/200s.
Apart from European routes, Armavia mainly operates in the Russian market using five leased Airbus A320s as well as two wholly-owned CRJ100/200s and a Sukhoi Superjet 100.
Bagdasarov said the carrier is looking to take delivery of a second Superjet in August or September.