Airline operator’s investments rejected by authorities after national security review

The Council for the Examination of Investments of Importance for State Security (CEIISS) has rejected approval of investments made by the airline FLY ONE in an area of importance for state security, following an examination procedure that lasted for approximately 11 months. During the analysis process, information was also assessed regarding possible links between individuals associated with the company and persons subject to international sanctions.

According to the Ministry of Infrastructure and Regional Development, the adopted decision also provides for the application of a change-of-control clause over the company within 90 days.

“Throughout the examination, CEIISS repeatedly requested information and documents regarding the structure of the investments, the ultimate beneficiaries, and the financial transactions between FLY ONE Moldova and the affiliated company FLYONE Armenia. According to the conclusions of the Council, some of the requested information was not provided in full,” the Ministry of Infrastructure and Regional Development stated in its press release.

At the same time, during the evaluation process, information was analyzed concerning possible links between persons associated with the respective companies and persons subject to international sanctions.

“These circumstances were included among the elements assessed by the Council when adopting the decision. CEIISS emphasizes that the measure taken is intended to protect the state’s security interests in a strategic sector and to ensure compliance with legislation on investments in sensitive sectors. For the company’s passengers and commercial partners, there are no immediate changes,” the statement reads.

The institution specifies that the decision does not target the operational activity of the company and does not affect the services provided to travelers.

“FLY ONE continues to operate scheduled flights and to honor its obligations to passengers, partners, and other economic agents,” the authorities stressed.

According to the press release, the decision concerns exclusively the control of investments in an area of importance for state security and does not, at this stage, affect the continuity of the services provided by the company.

FLY ONE is a private airline from the Republic of Moldova, launched in 2016, which operates regular and charter flights from Chisinau International Airport.