Air Moldova suspends all flights from May 2! Expedited Restructuring Requested!
Today, the airline company Air Moldova submitted to the court the application for the approval of the accelerated restructuring of the company, which is an action plan aimed at avoiding the bankruptcy of the airline, solving the existing problems and accepting investments.
The restructuring, requested in court by Air Moldova, represents the use of a complex of instruments in order to overcome the financial difficulties and restore the economic viability of the company. The restructuring procedure is the solution identified by the company that would allow external investment.
Investors are ready to invest around 50 million dollars in Air Moldova. These investments would allow solving the company's financial problems and replenishing its own fleet. Investments in the company cannot be made without the accelerated restructuring procedure due to the increased risk of an attack by existing creditors.
The accelerated restructuring will allow the company to receive these investments strictly for the development of the company, so that later, in time, the existing debts will also be paid.
Thus, until the decision of the court, regarding the acceptance or rejection of the request submitted by Air Moldova, the company will suspend the operation of flights and ticket sales starting on May 2, 2023. The resumption of the activity will be possible within 3 days after the decision of to the court.
With the court's acceptance of the request for accelerated restructuring, the Air Moldova company will resume flight operations and ticket sales.
All the actions undertaken by the Air Moldova Company Management are aimed at saving the national operator from bankruptcy. Accelerated restructuring is a unique opportunity for Air Moldova, being an international practice. Although it is a private airline since 2018, Air Moldova is a national operator, market leader and presents a case of public interest.
Thus, we will transparently publish the conditions and causes that led Air Moldova to resort to the accelerated restructuring procedure: