Air Moldova on May 2 suspended all operations as the company restructures its debts.
The airline issued this statement:
Air Moldova announces: Accelerated restructuring of the company, with the aim of saving it!
On May 2, 2023, 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, which aims to avoid the bankruptcy of the airline, solve the existing problems and accept investments.
The restructuring requested in court by Air Moldova represents the use of a complex of instruments in order to overcome 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.
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.
Top Copyright Photo: Air Moldova Airbus A321-211 ER-AXR (msn 808) AYT (Ton Jochems). Image: 947537.
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