Air Moldova owes millions of euros in cancellation refunds, its only aircraft is still under repair, while its Air Operator Certificate has been suspended. In late September, Air Moldova’s creditors were supposed to hold a meeting to discuss an “accelerated restructuring plan”, but it got postponed, Europa Liberă reported.
The airline’s temporary administrator, Irina Selevestru, told Europa Liberă that the meeting was postponed after a lawyer for several creditors asked the case to be transferred from the district court to the Court of Appeal. The hearing was supposed to take place on October 5, but the same lawyer asked that the case be examined by the Supreme Court because he did not trust the Court of Appeal.
In August, the airworthiness certificate of the only aircraft that Air Moldova operates expired. The plane was supposed to be ready to fly in April, but it still remains under repair to this day. For this reason, the Civil Aviation Authority suspended the company’s air operator certificate until October 31.
According to the latest Air Moldova’s submission to the Civil Aviation Authority, the airline owed more than 6 million euros in refunds.
A spokesperson for the Civil Aviation Authority said that the refund process is more complicated for passengers who bought tickets through travel agencies rather than directly from the airline.
Air Moldova has started canceling flights in late February. Since April, the airline’s accounts have been frozen due to debts, precluding the company from paying salaries, airport fees, bills and passenger refunds. In May, Air Moldova asked the court for approval to do an “accelerated restructuring”, which would enable it to attract $50 million in investment and thus avoid bankruptcy.
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