Romania’s Civil Aviation Group buys Air Moldova for $3m plus debt

posted on 3rd October 2018 by Justin Burns
Romania's Civil Aviation Group buys Air Moldova for $3m plus debt

Romania’s Civil Aviation Group led by Blue Air and two Moldavian investors has bought Air Moldova for $70.5 million, according to Moldova’s Public Property Agency.

The majority of the purchase price was to cover the debt of Air Moldova, with $3 million transferred to the Moldavian government with an additional $4 million committed by the Group to the airline by 2023 for training.

The new ownership said it plans to maintain the current network schedule along with its national carrier status, with the priorities to regain customers’ trust and to improve business performance.

Air Moldova said it will launch seven new routes by the end of 2019 and four new routes in 2020. Later in 2021, flights to the US, Canada and China are being planned, among other network changes.

The move is part of an initiative to turn Chisinau International Airport into an international gateway.

By 2021, Air Moldova aims to operate a fleet of 14 aircraft, mostly Airbus 320, A319 and Embraer E190 aircraft.