Avia Invest Shareholders Allocated 170 Million Euros for Investments

Avia Invest, a Chisinau International Airport concessionaire, announced that it will soon sign a loan agreement with investors. “This money will be used to develop the airport’s infrastructure. Avia Invest also said that its shareholders will finance social projects to combat the COVID-19 epidemic, totaling 100 million lei. In addition, according to the information the company circulated, shareholders allocated necessary funds to pay off all Avia Invest debts that actually do not belong to it, "the company stated, ziarulnational.md reported The 170 million euros loan agreement was signed with investors, the money will be available within the next 30 days. “These funds will be used to further fulfill investment obligations under the concession agreement of Chisinau International Airport,” the statement said. "The money is aimed for new passenger terminal construction, cargo terminal and for completing of the new runway construction." The company also notes that future projects will create about 9,000 new jobs, which is an extremely important fact for the country's economy. “Upon completion of the planned work, Chisinau International Airport will become one of the most modern in the CIS and Eastern Europe,” the company believes. In addition, the concessionaire of the International Chisinau Airport announced support for several social projects totaling 100 million lei allocation by its shareholders. “These funds will be used to implement numerous social projects throughout the country aimed at supporting and improving the lives of the Republic of Moldova citizens,” Avia Invest said. As to the company relationship with the Civil Aviation Authority of the Republic of Moldova, Avia Invest confirms its position: “the financial claims presented to it represent a fine on the historical debts of Air Moldova that formed during the period when the company was managed by the state”. “One of the founders of Avia Invest decided to provide a large loan to pay off all current debts arising from the pandemic and the actual termination of the operations of Chisinau International Airport and historical debts that were not caused by Avia Invest. No later than May 15, absolutely all financial obligations of the company, including the claims of the Civil Aviation Authority of the Republic of Moldova, will be fully implemented,” the statement said. At the same time, according to Avia Invest, instead of providing assistance to the aviation industry, experiencing a severe crisis provoked by the COVID-19 pandemic, the state threw aviation and related enterprises to their own devices, offering to get out of the crisis on their own. Moreover, at this difficult time for the industry, the authorities impose an additional tax of 4.5 euros on each departing passenger. The company does not agree with this and will protest this decision. Avia Invest emphasizes that it has fulfilled and intends to fulfill in the future all its obligations in full and "contrary to rumors spread by some politicians about financial problems that the company is allegedly experiencing." Avia Invest became Chisinau International Airport concessionaire in the summer of 2013. The concession agreement was concluded for up to 49 years.