PPA TERMINATES AGREEMENT OF CONCESSION WITH AVIA INVEST DUE TO NON-FULFILLMENT OF INVESTMENT OBLIGATIONS

The Public Property Agency (PPA) terminated the Chisinau Airport concession agreement with Avia Invest due to its failure to fulfill investment obligations and demanded the return of the property taken into the concession.

According to a press release of the agency, the decision was made due to the fact that Avia Invest "did not fulfill contractual obligations to achieve the goals set in the Investment Program for both, the first phase and the second, resulting in investments debt amounted to about 66.2 million euros. "

In April, the Agency sent an advance notice to the company, recalling the need to fulfill contractual obligations within 60 days. However, this did not happen.

For its part, Avia Invest at a recent press conference stated that it "fulfills all investment obligations in accordance with the plan and concession contract of 2013, and this is confirmed by all documents submitted to the Public Property Agency and other state institutions."

"To date, the company has invested more than 90 million euros in infrastructure, and passengers over the past few years have been able to see for themselves the transformation of Chisinau Airport. All opinions voiced on this issue by institutions such as the PPA, which have documents that contradict their own statements, are absurd and made either out of ignorance or under political pressure, "said the investor.