The Air Moldova company suspended carrying out flights and the sale of tickets May 2.
According to Air Moldova, the company submitted to court an application on the approval of its accelerated reorganization, which represented an action plan, the goal of which was to avoid the bankruptcy of this air company, solve the present problems and accept investments.
Air Moldova noted that the procedure of reorganization was the solution identified, which would allow foreign investments.
“The reorganization, demanded by Air Moldova in court, represents the use of a complex of instruments, in order to overcome the financial difficulties and reestablish the company’s economic viability. Investors are ready to direct about $50 million. These investments would allow settling the company’s financial problems and supply the fleet. The investments in the company cannot be made without the procedure of accelerated reorganization, because of a high risk of appeal by the present creditors,” a press release by Air Moldova reads.
Till the court issues its ruling on the acceptance or turning down of the application submitted by Air Moldova, the company said that it would suspend carrying out flights and the sale of tickets starting from May 2. The resumption of the activity will be possible in a three-day period after the court’s ruling is issued.
The Air Moldova company has earlier repeatedly informed about the cancellation of more flights, invoking the deficit of financial resources. (Moldpres/Business World Magazine)