AVIA INVEST: STOCKHOLM ARBITRATION PROHIBITS TERMINATING CONCESSION CONTRACT OF CHISINAU AIRPORT

The Stockholm Arbitration Court has outlawed the termination of the concession contract for the Chisinau airport. This was announced by Avia Invest, the airport concessionaire, with which the Moldovan authorities are terminating the agreement due to non-fulfillment of investment obligations.

The company reported on the airport's social media page that "the interim decision of the Stockholm court on the claim against Moldova on violation of international and national legislation in relations with the concessionaire was announced the day before."

"The arbitration court forbade the Republic of Moldova to terminate the contract before the final decision and prohibited the termination of the concession," says the announcement of the court's decision, which Avia Invest welcomes.

In early July, the Public Property Agency (PPA) terminated the concession of the Chisinau airport with Avia Invest, demanding the return of the property. According to the PPA, investment arrears are 66.2 million euros. Avia Invest claims to be fulfilling its obligations "in accordance with the 2013 concession contract." It itself applied to the Stockholm arbitration "with a claim to recover from RM 900 million euros [more than a quarter of the 2020 budget] as compensation.