Moldova's Public Property Agency details Air Moldova privatisation plans

Moldova's Public Property Agency announced (30-Jul-2018) Air Moldova will be privatised at a price of MDL48.2 million (EUR2.5 million). The investor will also assume a debt payment of around EUR60 million and a capital injection to guarantee the development of the company. As previously reported by CAPA, privatisation is due to the need for private capital to modernise the fleet, improve the quality of services provided, expand the range of services attract transit passengers. The agency said changes in the air transport market, a competitive environment and pressure of LCC operators on the aviation market have "strongly affected" Air Moldova, noting the carrier incurred losses of around MDL150 million (EUR7.8 million) in the five months ended 31-May-2018. [more - original PR - Romanian]